Elliott Wave Analysis – TradingLounge Daily Chart
VeChain / U.S. Dollar (VETUSD)
VETUSD – Elliott Wave Technical Analysis

• Function: Counter Trend
• Mode: Corrective
• Structure: Double Corrective
• Position: Wave Y
• Next Directional Move (Higher Degrees): Awaiting development
• Invalidation Level: Not specified

Trading Strategy Overview – Daily Chart

VeChain (VETUSD) experienced a strong upward move from around $0.0212 in early April, establishing a clear wave I formation. The current structure indicates the start of a wave II corrective phase, likely forming a Double Zigzag.

Strategy Points:

• For Swing Traders (Short-Term):
  Watch for wave Y to end in the $0.020–$0.021 area. A long position can be considered to ride wave III.
• Risk Management:
  If the price dips below $0.017, the current wave count may be invalid, requiring structural reassessment.

Elliott Wave Analysis – TradingLounge H4 Chart
VeChain / U.S. Dollar (VETUSD)
VETUSD – Elliott Wave Technical Analysis

• Function: Counter Trend
• Mode: Corrective
• Structure: Double Corrective
• Position: Wave Y
• Next Directional Move (Higher Degrees): Awaiting development
• Invalidation Level: Not specified

Trading Strategy Overview – 4-Hour Chart

As observed in the Daily Chart, VETUSD has likely completed a wave I and is undergoing a wave II correction via a Double Zigzag. Similar strategy guidance applies here:

Strategy Points:

• Swing Trade Opportunity:
  Entry near $0.020–$0.021 to catch the beginning of wave III upward.
• Critical Level:
  If the market breaks below $0.017, the Elliott structure becomes invalid.

Analyst: Kittiampon Somboonsod, CEWA

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