VeChain (VETUSD) Elliott Wave Technical Analysis

Daily Chart Analysis – TradingLounge

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Wave Position: Wave II
• Wave Cancel (Invalidation) Level: Not specified

Market Overview:
Following a completed corrective pattern labeled ABC, VETUSD entered a strong upward phase, finishing wave (1). The price is now likely to enter wave (2), typically seen as an ABC retracement. This phase can serve as a consolidation before the next bullish trend begins.

Trading Strategy – VETUSD

• Short-Term Approach (Swing Trade):
• • Wait for price movement into the wave (2) zone.
  • Look for a valid entry signal or pattern before buying.
• Risk Management:
• • Stop-loss should be set below $0.02220 to manage risk effectively.

4-Hour Chart Analysis – TradingLounge

• Function: Follow Trend
• Mode: Motive
• Structure: Impulse
• Wave Position: Wave II
• Wave Cancel (Invalidation) Level: Not specified

Short-Term View:
The recent market activity reflects the same wave progression seen in the daily chart. Wave (1) has completed, and wave (2) is forming. Traders should be cautious and wait for a pullback confirmation before entering a position.

Trading Strategy – 4H Chart

• Swing Trade Setup:
• • Watch for a corrective pullback into the wave (2) region.
  • Enter trades only after validation through price structure.
• Risk Strategy:
• • Suggested stop-loss level: below $0.02220

Analyst: Kittiampon Somboonsod, CEWA

More By This Author:

Palo Alto Networks Inc. U.S. Stocks Elliott Wave Technical Analysis
S&P BSE Sensex Next 50 Index Wave Technical Analysis
Technical Analysis: Euro/U.S. Dollar