VET/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective
Structure: Double corrective.
Position: Wave ((Y)).
Direction next higher degrees: Wave II of impulse.
Details: Wave II May is complete and the price increase again in wave III.
VET/USD trading strategy
VeChain's trend seems to be over as the price action in wave 1 is likely to be over. The price is entering a correction in wave 2, which is likely to test the 50-61.8% level of wave 1 before rising again in wave 3. So, look for an opportunity to rejoin the trend.
VET/USD technical indicators
The price is below the MA200 indicating a downtrend, the wave oscillator is a bearish momentum.
VET/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective
Structure: Double corrective.
Position: Wave ((Y)).
Direction next higher degrees: Wave II of impulse.
Details: Wave II May is complete and the price increase again in wave III.
VET/USD trading strategy
VeChain's trend seems to be over as the price action in wave 1 is likely to be over. The price is entering a correction in wave 2, which is likely to test the 50-61.8% level of Wave 1 before rising again in wave 3. So, look for an opportunity to rejoin the trend.
VET/USD technical indicators
The price is below the MA200 indicating a downtrend, the wave oscillator is a bullish momentum.
VET/USD Elliott Wave technical analysis [Video]
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