Elliott Wave Analysis TradingLounge Daily Chart, 6 February 24,
VeChain /US Dollar(VETUSD)
VET/USD Elliott Wave technical analysis
Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave ((5))
Direction next higher degrees: wave I of Impulse
Wave cancel invalid level: 0.2100
Details: Wave ((5)) is equal to 61.8% of Wave ((1)) through wave ((3)) at 0.04095
VeChain /US Dollar(VET/USD)trading strategy
It appears that the correction in the fourth wave is complete. And we are entering another fifth wave of increases. We expect the price to test the level of 0.04095, which is the level of 61.8% of Wave 1 through Wave 3.
VeChain / U.S. dollar(VETUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum
TradingLounge Analyst: Kittiampon Somboonsod
Elliott Wave Analysis TradingLounge 4Hr Chart, 6 February 24,
VCHAIN / U.S. dollar(VETUSD)
VET/USD Elliott Wave technical analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((5))
Direction next higher degrees: wave I of Impulse
Wave cancel invalid level: 0.2100
Details: Wave ((5)) is equal to 61.8% of Wave ((1)) through wave ((3)) at 0.04095
VeChain /US Dollar(VET/USD) trading strategy
It appears that the correction in the fourth wave is complete. And we are entering another fifth wave of increases. We expect the price to test the level of 0.04095, which is the level of 61.8% of Wave 1 through Wave 3.
VeChain /U.S. dollar(VETUSD) Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillators a bearish Momentum.
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
Lukas Enzersdorfer-Konrad, Bitpanda deputy CEO: “Crypto needs Gary Gensler gone”
Lukas Enzersdorfer-Konrad is the deputy CEO at Bitpanda, a broker based in Europe with more than five million users. At the European Blockchain Convention held in Barcelona, the executive shared with FXStreet his views on the current state of the crypto industry and its regulation.
Bitcoin still consolidates despite positive spot ETFs demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
Why is ONDO’s price outlook bullish?
DefiLlama data shows that Ondo TVL reached a new ATH of $613.75 million. Ondo’s Supply Distribution metric shows whale accumulation. On-chain data shows that ONDO’s daily trading volume is rising, and the supply of exchanges is decreasing.
Maker price eyes a rally on technicals and on-chain metrics
Maker trades above $1,500 on Thursday, suggesting a potential rally as technical indicators show bullish divergence. This positive outlook is reinforced by MKR’s Exchange Flow Balance, which shows a negative spike, indicating growing investor confidence in the platform.
Bitcoin: Fed-led rally could have legs towards $65,000
Bitcoin is poised for a second consecutive week of gains, supported by the recent 50-basis-point cut in interest rates by the Federal Reserve. Bitcoin broke above several key technical resistances this week, signaling a rally continuation.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.