VeChain: Down Again

After a brief recovery, VeChain is trending lower once more. The low of the orange wave ii from early February is approaching but shouldn’t be undercut for the structure of the orange impulse wave iii to remain intact. Soon, we expect a decisive and sustained breakout of this wave iii above the resistance at $0.08. As a mid-term target, the entire orange five-wave sequence should ultimately complete the blue wave (iii).