- VeChain is nearing the end of its corrective Wave II, with analysts watching the $0.020–$0.018 range for a potential bullish reversal.
- If the price bounces strongly from this zone, it may signal the start of impulsive Wave III and a possible upward breakout.
VeChain (VET) may soon reverse its trend. Technical analysis shows the correction phase is almost over.
VeChain Price Holds in Final Correction Stage
VeChain is in a pattern known as Wave II, part of the Elliott Wave theory. This phase is double corrective, meaning the price moves sideways or down before reversing upward.
The price is now hovering between $0.020 and $0.018. If VeChain holds within this zone and starts to rise, Wave III could begin. That phase usually leads to a strong upward trend.
What Traders Should Watch
Traders should track RSI and MACD. These indicators may show bullish divergence, hinting at a trend reversal.
If a bullish candlestick pattern like a Bullish Engulfing appears with strong volume, buying pressure could follow. This may signal the start of an uptrend.
Traders must also ensure the price does not fall below $0.017. If it does, the current wave count becomes invalid.
Risk and Strategy
Swing traders can look for reversal signals. However, they should stay cautious until confirmation appears.
The key risk level is $0.017. A break below that price cancels the bullish setup. In that case, traders must reassess the entire chart.
VeChain is trading in a critical zone. A bounce from $0.018–$0.020 may trigger the next bullish wave. If reversal signs appear, Wave III could follow with higher prices.
ALSO READ:VeChain Risks Further Fall After 40% Monthly Drop
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