Vechain Elliott Wave technical analysis [Video]

VET/USD – 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.

VET/USD – 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 – Four-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.

Vechain Elliott Wave technical analysis [Video]