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]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
Ethereum bulls could stage 30% rally following Fed Chair's keynote, withdrawing over 284K ETH from exchanges
![Ethereum bulls could stage 30% rally following Fed Chair's keynote, withdrawing over 284K ETH from exchanges](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Ethereum/Ethereum_Coins_31_03_XtraSmall.jpg)
Ethereum is up over 6% on Friday as bulls have initiated heavy buying pressure following indications from US Federal Reserve (Fed) Chair Jerome Powell that an interest rate cut is imminent.
SUI, OP, ZETA lead $160 million crypto token unlocks next week
![SUI, OP, ZETA lead $160 million crypto token unlocks next week](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Sui/sui-sui-logo_XtraSmall.png)
The crypto market will witness another round of heavy token unlocks next week, with $164.2 million of cliff unlocks entering into the circulating supply of several top altcoins, per crypto intelligence firm Token Unlocks.
XRP trades above $0.60, Ripple whales shed token holdings
![XRP trades above $0.60, Ripple whales shed token holdings](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/cryptocurrenciesusd_XtraSmall.jpg)
Ripple whales holding between 1 million and 10 million XRP tokens slightly decreased their holdings between August 22 and 23. XRP retail traders holding less than 1,000 tokens accumulated the asset, while whales dropped their assets.
Here's why Bitcoin and the crypto market rallied after Fed Chair's speech
![Here's why Bitcoin and the crypto market rallied after Fed Chair's speech](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoins-33758372_XtraSmall.jpg)
Bitcoin has gained nearly 5% alongside a rally across the crypto market in the past 24 hours following indications of interest rate cut from Fed Chair Jerome Powell's keynote on Friday morning.
Bitcoin: Can BTC break above $62,000 barrier?
![Bitcoin: Can BTC break above $62,000 barrier?](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bit-coin-symbol-flag-3d-illustration-59931110_XtraSmall.jpg)
Bitcoin (BTC) trades above $60,000 on Friday, gaining more than 4% this week so far, but fluctuating within a range between $57,000 and $62,000 for the last 15 days. On-chain data shows contradicting signs, with institutions accumulating Bitcoin while some whales are selling. Additionally, the US spot Bitcoin ETFs recorded inflows this week, and continued Mt.Gox fund movements could bring volatility in Bitcoin's price in the coming days.
Moneta Markets review 2024: All you need to know
![Moneta Markets review 2024: All you need to know](https://editorial.fxstreet.com/images/IT/Testing/Review/FXSBadgeCertifiedBackg_XtraSmall.png)
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.