Jump to content

Vechain/U.S. dollar(VETUSD) Elliott Wave Technical Analysis 10 August 23


Recommended Posts

Elliott Wave Analysis TradingLounge Daily Chart, 10 August 23,  
Vechain/U.S. dollar(VETUSD)
VETUSD  Elliott Wave Technical Analysis
Function: Counter trend    
Mode: Corrective
Structure: Zigzag
Position: Wave (B)
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: VeChain looks like the downtrend has ended at 0.01318 and is entering a new uptrend. With five waves extending in the upward direction. This leads us to predict the rise of wave ((1)), which is currently in the range of a correction in wave ((2)), with a Zigzag Retracement of wave ((2)) usually .50 or .618 x Length. wave ((1)), when wave ((2)) ends, the price has a chance to trade above the level of 0.02126.

Vechain/U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI below 50  are  Bearish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source : Tradinglounge.com get trial here!






Elliott Wave Analysis TradingLounge 4H Chart, 10  August 23,  
Vechain/U.S. dollar(VETUSD)
VETUSD  Elliott Wave Technical Analysis
Function: Counter trend    
Mode: Corrective
Structure: Zigzag
Position: Wave (B)
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: VeChain looks like the downtrend has ended at 0.01318 and is entering a new uptrend. With five waves extending in the upward direction. This leads us to predict the rise of wave ((1)), which is currently in the range of a correction in wave ((2)), with a Zigzag Retracement of wave ((2)) usually .50 or .618 x Length. wave ((1)), when wave ((2)) ends, the price has a chance to trade above the level of 0.02126.

Vechain/U.S. dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI below 50  are  Bearish momentum.

VETh4.thumb.png.506c2e94e3648c38fc7d9285573b6765.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

    • this sounds like an amazing opportunity for users in the crypto world. It's important to approach futures trading competitions with caution, ensuring one's financial stability and a comprehensive understanding of the market. While the prizes are enticing, responsible trading remains the ultimate goal. Thanks for sharing such an intriguing event, I’ll definitely be taking a look at it ! 
    • As a newbie crypto trader, I dove headfirst into the world of futures trading on Bitget. Feeling overwhelmed by the charts and analysis, I discovered their copy trading platform. It was a revelation! Following the strategies of Bitget's elite traders, I learned the ropes while making real profits. Their expertise took the guesswork out of trading, allowing me to focus on understanding the market. This new Bitget Futures Elite Trader Selection Program is fantastic news. It incentivizes these top traders, giving them greater exposure, while also helping new users like myself identify proven performers. It's a win-win for everyone, and a huge step forward in making futures trading more accessible and successful for beginners. Thanks Bitget!    
    • Ontology is a high-performance, open-source blockchain that aims to revolutionize the way we approach digital identities, data sharing, and trust in the digital realm. One of the standout features of Ontology is its dual-token model, which separates the roles of ONT and ONG. While ONT serves as the staking tool for nodes and governance, ONG operates as the value-anchoring utility token for on-chain applications and transactions. This innovative approach mitigates the risk of turbulent fluctuations in the native asset value, ensuring a stable and efficient ecosystem. The ONG listing on Bitget is particularly exciting for several reasons. Firstly, it aligns with Ontology's recent announcement of a $10 million fund aimed at fueling the innovation and adoption of Decentralized Identity (DID) through the ONT and ONG tokens. This initiative underscores the project's commitment to empowering, educating, and evolving its ecosystem in exciting new ways.
×
×
  • Create New...
us