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VeChain (VET) Treads Water Awaiting Next Big Move
In brief
VET is facing resistance at $0.019. The next resistance and support levels are found at $0.028 and $0.008.
The price is following a descending resistance line, and possibly trading inside a descending channel.
VET has likely completed a five-wave Elliott formation.
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VeChain (VET) has been one of the best performing cryptocurrencies since hitting an all-time low in March. The VET/USD pair increased by 1,500% in the three months that followed. However, failure to reach a close above an important long-term resistance level has lead to the possibility that the upward move has ended and the price has begun a corrective period. VET Battles Major
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