Vechain Elliott Wave technical analysis [Video]

VET/USD 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.

VET/USD 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.

Vechain (VET/USD) Elliott Wave technical analysis [Video]