The short-term retracement of the second wave is likely to retest the 50% level of the first wave at 0.0270. We expect that the price is still likely to fall further, but only as a pullback. short term to continue Wait for the correction to complete to rejoin the uptrend.

VeChain/U.S. dollar(VETUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge 4H Chart,

VeChain/ U.S. dollar(VETUSD).

VET/USD Elliott Wave technical analysis

Function: Counter trend.

Mode: Corrective.

Structure: Flat.

Position: Wave ((C)).

Direction next higher degrees: Wave II of Impulse

Wave Cancel invalid Level:

Details: Wave C is equal to 161.8% of Wave A at 0.0265

VeChain/U.S. dollar(VETUSD)Trading Strategy:

VeChain/U.S. dollar(VETUSD)Technical Indicators: The price is above the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.

Technical analyst: Kittiampon Somboonsod/

VeChain Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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