VETUSD Elliott Wave Technical Analysis 22 January 2023
4 Hour
VeChain/U.S.dollar(VETUSD)
VETUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (5)
Direction Next higher Degrees: wave ((1)) of Motive
Wave Cancel invalid Level: 0.01535
Details: Wave (5) usually .618 x wave (1) through wave (3)
VeChain/U.S.dollar(VETUSD) Trading Strategy: Vechain Coin has recovered well from the 0.01533 level, but is at the end of the fifth wave. It is an early warning of a correction or trend change. Trading should wait for the correction to complete.
VeChain/U.S.dollar(VETUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators have hidden bullish divergence the price trend reversal
Daily
VeChain/U.S.dollar(VETUSD)
VETUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave V
Direction Next higher Degrees: wave V of Impulse
Details: Wave V may have caught and the price is reversing to an uptrend.
Wave Cancel invalid Level: 0.0153
VeChain/U.S.dollar(VETUSD) Trading Strategy: Vechain Coin recovered well from the 0.01533 level, and a bullish divergence signaled, giving the price a chance to reverse the upward trend. But since the price is still below the MA200, it may cause the price to be pressured by selling pressure. Trading should be done with caution.
VeChain/U.S.dollar(VETUSD) Technical Indicators: The price is below the MA200, indicating a downtrend. The wave oscillators have hidden bullish divergence the price trend reversal
