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Elliott Wave Analysis TradingLounge Daily Chart, 6 April 2023. 

VeChain/U.S. Dollar (VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Follow trend    

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Direction Next higher Degrees: wave I of Impulse

Wave Cancel invalid Level: 0.01533

Details: : Wave ((3)) is usually equal to 1.618 multiplied Length of wave ((1))

VeChain/U.S. Dollar (VETUSD) Trading Strategy: VeChain is recovering well. And we expect wave ((2)) to end at the level of 0.01940. Five rising waves from this point and the price can break the MA200 line will support this idea. The price is likely to trade above the level of 0.04705.

VeChain/U.S. Dollar (VETUSD) Technical Indicators: The price is below the MA200 indicating a downtrend The wave oscillators above Zero-Line momentum are bullish.

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 6 April 2023. 

VeChain/U.S. Dollar (VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Follow trend    

Mode: Motive

Structure: Impulse

Position: Wave (3)

Direction Next higher Degrees: wave I of Impulse

Wave Cancel invalid Level: 0.01940

Details: Wave (3) is usually equal to 1.618 multiplied Length of wave (1)

VeChain/U.S. Dollar (VETUSD) Trading Strategy: VeChain is recovering well. And we expect wave ((2)) to end at the level of 0.02144. Five rising waves from this point and the price can break the MA200 line will support this idea. The price is likely to trade above the level of 0.03102.

VeChain/U.S. Dollar (VETUSD) Technical Indicators: The price is above the MA200 indicating an uptrend. The wave oscillators Below Zero-Line momentum are bearish.

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