Jump to content

VeChain/U.S. dollar(VETUSD) Elliott Wave Technical Analysis 12 July 23


Recommended Posts

Elliott Wave Analysis TradingLounge Daily Chart, 12 July 23,  

VeChain/U.S. dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Counter trend    

Mode: Corrective

Structure: Flat

Position: Wave (C)

Direction Next higher Degrees: wave ((II)) of Impulse

Wave Cancel invalid Level: 0.01318

Details: Wave V is likely to end at the level of 0.01318. A five-wave rise will support this idea.

VeChain/U.S. dollar(VETUSD)Trading Strategy: VeChian recovered well from the 0.01318 level and was able to form a strong five-wave structure, giving Chainlink a chance to form a new uptrend. Still, the price is still below the MA200 line, giving the price a chance to face selling pressure. Also, the price is still in the range of wave 2 correction, waiting for wave 2 to complete to join the trend again.

VeChain/U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillator are bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

VETday.thumb.png.e92f30c634971827c7887fe8a3e96e7c.png

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 12 July 23,  

VeChain/U.S. dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Counter trend    

Mode: Corrective

Structure: 

Position: Wave 

Direction Next higher Degrees: wave ((2)) of Impulse

Wave Cancel invalid Level: 0.01318

Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))

VeChain/U.S. dollar(VETUSD)Trading Strategy: VeChian recovered well from the 0.01318 level and was able to form a strong five-wave structure, giving Chainlink a chance to form a new uptrend. But the price is likely to face selling pressure. As the price is still in the 2nd wave correction, wait for the 2nd wave to complete to join the trend again.

VeChain/U.S. dollar(VETUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillator are bullish momentum.

VETh4.thumb.png.59865ca65e0efdbf6045d82f3b5d63b8.png

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • In times of inflation, it's clear that traditional savings can lose value quickly, so looking for ways to protect or even grow your money becomes important. A lot of people naturally think of investing in assets like commodities or stocks, which are popular options, but there are other approaches that can help as well. One option is to explore side gigs or freelance work, where you can make money now rather than waiting for long-term investments to pay off. With inflation affecting costs, it can be helpful to have multiple streams of income.
    • Seems Bitget strategic partnership with Ton ecosystem is paying off as Bitget Wallet Lite mini, hits more than 6 million users in 3 days. On Oct. 31, the exchange announced the official launch of Bitget Wallet Lite, a multichain wallet integrated into Telegram, allowing users to buy, store and send crypto within the app. Few months ago, the exchange launches $20M TON ecosystem fund and also TON network secures $30M investment from Bitget and Foresight Ventures, this led the wallet to surpass Metamask in adoption rate. Some users have shown preference to the wallet as compared to Okx and Binance wallet, could it be the friendly nature or ease to connect Ton project? A recent study shows that the wallet impressive growth cut across emerging markets like Africa, South Asia, and the Middle East, could it be the surge in Ton project that is responsible for this feat? The study also claims that the wallet support for over 100 blockchains, and a wide array of DApps, makes the wallet appealing to a global audience. It further claimed that the wallet support for DEX trading, including features like zero gas fees in certain transactions and instant trading modes could be responsible for the surge in users. https://cointelegraph.com/news/bitget-wallet-telegram-6-million-users-three-days
    • Really interesting analysis! I’m with you on being bullish on SOL its performance lately has been impressive, and the technicals are giving all the right signals. The RSI’s upward trend and strong buying volume suggest that there’s real momentum here. Even the recent sell-off by that whale doesn’t shake my confidence; if anything, it reinforces how much profit and growth potential Solana has delivered in a relatively short time. The network activity bringing in $25 million in profits is no small feat either, and it’s part of why I see SOL as a strong long-term play. With it still trading well below its ATH, I think there’s serious room for growth, especially if it breaks that $200 resistance. Plus, seeing the ecosystem mature with more use cases and sustained whale activity really solidifies SOL’s staying power in the competitive blockchain space. This could be one of those correction opportunities that we look back on and wish we’d gone in even harder. Definitely keeping my eye on it for future dip
×
×
  • Create New...
us