Technical Analysis

VeChain Remains Nicely Bullish As ExpectedFeb 14, 2024

VeChain Remains Nicely Bullish as expected, as we know that impulses are made by five waves from Elliott wave perspective.

VeChain with ticker VETUSD remains nicely bullish within a five-wave impulse as expected. On January 30th we have spotted a completed A-B-C correction in wave (4) with nice support at base channel resistance line in the 0.026 – 0.023 area, from where we expected a bullish continuation for wave (5).

VeChain Remains Nicely Bullish As Expected VETUSD Daily Chart From January 30
VETUSD Daily Chart From January 30

As you can see today after two weeks, VETUSD is nicely extending higher within a projected 5th wave, where we see room even up to 0.045 – 0.050 target area before market finds the temporary resistance.

VeChain Remains Nicely Bullish As Expected VETUSD Daily Chart From February 14
VETUSD Daily Chart From February 14

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