VeChain is struggling to stay above the key support at $0.018, but the anticipated low of the orange corrective wave ii should form above this red line – or may have already done so. Once the bottom is indeed settled, we expect the orange wave iii to break out impulsively, pushing well beyond the $0.08 resistance, where the entire orange five-wave move should ultimately complete the blue wave (iii). However, if VET falls below $0.018, the broader green wave alt.[2] will reach a new bear market low (probability: 38%). Primarily, we consider wave [2] as already finished.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.