VeChain (VET/USD) Elliott Wave technical analysis [Video]
|VET/USD Elliott Wave technical analysis
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Function: Trend Following.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave II.
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Direction of higher degree: Pending.
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Wave invalid level: Not Specified.
VET/USD trading strategy – Daily chart
Following the major Wave V bottom at $0.0212, VETUSD advanced to $0.0315 during the sub-wave ⑤. This rise marks the beginning of a correction phase labeled A-B-C, signaling a pause in the larger bullish structure.
Currently, VETUSD is nearing the end of wave C. The price is testing a key Fibonacci support area between 0.5–0.618 retracement levels. Historically, this zone often acts as a launchpad for new upward movements after corrections.
Trading strategies
- For swing traders
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- Look for a dip-buying chance between $0.022 and $0.024 if a reversal signal appears.
- Risk management
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- Place a stop-loss order under $0.018 to control risk exposure.
VET/USD Elliott Wave technical analysis
- Function: Trend Following
- Mode: Motive
- Structure: Impulse
- Position: Wave II
- Direction of Higher Degree: Pending
- Wave Invalid Level: Not Specified
VET/USD trading strategy – Four-hour chart
VETUSD rose from $0.0212 to $0.0315, ending sub-wave ⑤. Since then, it has entered a corrective A-B-C pattern, aligning with the broader bullish cycle.
As wave C approaches its end, the Fibonacci 0.5–0.618 support zone becomes critical. It is often where market reversals form post-correction.
Trading strategies
- For swing traders
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- Watch for dip entries in the $0.022–$0.024 range, confirming a reversal pattern.
- Risk management
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- A stop-loss below $0.018 is advised to manage potential downside.
VeChain (VET/USD) Elliott Wave technical analysis [Video]
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