Elliott Wave Analysis – TradingLounge Daily Chart,

VET/USD (VeChain to U.S. Dollar)

VETUSD Elliott Wave Technical Analysis

• Function: Counter-trend
• Mode: Corrective
• Structure: Zigzag
• Position: Wave (C)
• Next Higher Degree Direction: Wave ((2)) of Impulse
• Wave Cancellation Invalid Level: 0.01907

Details:

VeChain (VET) has been undergoing a prolonged corrective phase. Currently, its Elliott Wave structure is entering a critical area, potentially signaling the beginning of a new uptrend.

VET/USD Trading Strategy:

Following a peak at $0.08000, VET entered a sharp correction within the (A)-(B)-(C) wave structure. The latest wave (C) appears to have bottomed at $0.02134, marking the low of wave (2).

Currently, signs of recovery are visible, with a key resistance level at $0.03369. The main Elliott Wave sequence has completed waves I–II, and wave (2) appears to have concluded at $0.02134. The market is now in the early phase of a wave 1 uptrend.

• Key Confirmation Point:
  • If the price successfully holds above $0.03369, it would confirm that wave (2) is complete and validate a potential uptrend.

Trading Strategies:

Strategy

• For Short-Term Traders (Swing Trading):
  • Uptrend Begins: If the price breaks above $0.03369, an accelerated price movement is expected.
  • Target Levels:
    • First target: $0.04500
    • Next target: $0.06500

Risk Management:

• If the price drops below $0.02134 and further breaches the Wave Cancel Invalid Level at $0.01912, the current Elliott Wave structure will be deemed invalid.

Elliott Wave Analysis – TradingLounge H4 Chart,

VET/USD (VeChain to U.S. Dollar)

VETUSD Elliott Wave Technical Analysis

• Function: Counter-trend
• Mode: Corrective
• Structure: Zigzag
• Position: Wave (C)
• Next Higher Degree Direction: Wave ((2)) of Impulse
• Wave Cancellation Invalid Level: 0.01907

Details:

VeChain (VET) has undergone an extended correction and is now entering a crucial phase where its Elliott Wave structure may indicate the beginning of an uptrend.

VET/USD Trading Strategy:

After reaching a high of $0.08000, VET experienced a strong correction in an (A)-(B)-(C) pattern. Wave (C) appears to have found a bottom at $0.02134, marking the end of wave (2).

Currently, the market is showing recovery signs, with a major resistance at $0.03369. The main Elliott Wave pattern has completed waves I–II, and wave (2) has likely concluded at $0.02134. The market is now in the early stages of a wave 1 uptrend.

• Key Confirmation Point:
  • A sustained move above $0.03369 would confirm the completion of wave (2) and validate an upward trend.

Trading Strategies:

Strategy

• For Short-Term Traders (Swing Trading):
  • Uptrend Begins: If VET breaks $0.03369, the price is expected to rise swiftly.
  • Target Levels:
    • First target: $0.04500
    • Next target: $0.06500

Risk Management:

• If the price drops below $0.02134 and breaches W.C. Invalid Level at $0.01912, this Elliott Wave structure will become invalid.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

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