VeChain (VET), known for its blockchain solutions in supply chain management, is the focus of our analysis today. We focus on the VET price forecast for the coming period. In this article you will find a technical analysis from our premium environment.
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Technical analysis VeChain (VET)
Crypto Insiders analysts recently published a new VET analysis in the premium environment. They highlighted the following aspects:
“After an impressive rise from the 12345 Elliott Wave, we now see that VET has been in a downward trend for some time. This move is not unexpected as an impulsive upward wave is often followed by a correction. The current correction appears to be developing in the form of a WXY Elliott wave pattern.
By identifying this pattern, we can estimate how deep this correction will ultimately be. We expect VET to fall to the group of Fibonacci retracement levels from 100% to 123.6%. This corresponds to a price between $0.0220 and $0.02388.
At this point we expect a possible trend reversal. Our focus remains on the downward trend for now, but at the same time we are alert to the opportunities that a reversal could present.”
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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. These therefore serve exclusively educational purposes.
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