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- VET poised for peak at $1.414 in Wave 3’s explosive rally, selling strategy set for $0.50-$0.70.
- VeChain’s Wave 3 targets key resistance at $0.78, strategize to secure gains and avoid market traps.
- With VET entering dynamic Wave 3, strategize smart sales between $0.50-$0.70 to maximize returns.
VeChain (VET) cryptocurrency is depicted entering the early stages of Wave 3, which is often considered the most impulsive and dynamic phase of a typical Elliott Wave cycle. This analysis, provided on TradingView and shared by EGRAG Crypto, offers a strategic insight into VET’s potential trajectory, which could significantly influence trading strategies and investor decisions in the coming years.
#VET Early Stage of Wave 3 – The Most Impulsive Wave!
— EGRAG CRYPTO (@egragcrypto) October 6, 2024
⚡️ Are you ready for the beginning of Wave 3? This is the most explosive and impulsive wave, where the real action happens! 💥
💡 Here's the strategy: As we ride this wave, take profits at the end of the wave and secure… pic.twitter.com/w55cypEnLN
Elliott Wave Theory
Technical analysis method Elliott Wave Theory helps predict what the future price will surprise by not relying solely on technical indicators but rather on recurring wave patterns to which investor psychology is linked. In the case of VET, the analysis highlights the start of Wave 3, which typically shows the most substantial and longest rally in a five-wave cycle. This phase follows a corrective Wave 2, where VET rebounded after finding support around the $0.013 mark.
As illustrated, VET’s Wave 1 commenced around late 2022, ascending from a base level to reach highs around $0.06 before retreating slightly in Wave 2. The analysis forecasts an ambitious climb in Wave 3, targeting significant resistance levels at $0.78 and $1.272 and an ultimate peak at $1.414. These projections are visually represented with a green upward trajectory, indicating the expected bullish momentum.
VeChain’s Blockchain-as-a-Service
VeChain, a blockchain technology, is being integrated into decentralized physical infrastructure networks (DePIN) and used in supply chain management. Its Blockchain-as-a-Service (BaaS) platform enhances transparency and security by collecting real-world data using VeChainThor tags and sensors.
This data is securely recorded on the blockchain, combating counterfeit products and fostering trust among consumers and stakeholders. The platform’s unique identifiers ensure product authenticity.
VeChain’s blockchain platform is revolutionizing supply chain management in various industries. Its partnership with Walmart China ensures food safety and quality tracking, while its collaboration with LVMH verifies high-end product authenticity. BMW uses VeChain’s technology to streamline complex supply chains in the automotive industry.
In healthcare, it safeguards medical supplies and pharmaceuticals and supports sustainability through carbon credit tracking and trading. VeChain’s growing influence in the industry is attributed to its integrating blockchain solutions into real-world scenarios.