If you’ve been scanning the charts for @Vanarchain $VANRY today, you’ve likely noticed the tension. Currently trading around $0.0070, the asset is coming off a fresh all-time low hit just yesterday. While the headlines are buzzing about the recent AI Integration Launch, the price action is telling a story of intense accumulation hidden behind a bearish curtain.
📉 The Elliott Wave Perspective
Zooming out, the recent price action suggests we are in a complex Wave 2 correction. After a sharp impulsive move earlier in the month, the market is currently "flushing out" the weak hands.
In Elliott Wave theory, Wave 2s often retrace deep into the territory of the previous Wave 1 sometimes as much as 90%. We are seeing exactly that right now. The good news? Once a Wave 2 completes its "ABC" zig-zag, it usually leads into Wave 3, which is historically the longest and most profitable leg of the cycle. For $VANRY, the "C" leg of this correction looks nearly exhausted at the $0.0068 support wall.
🔍 Price Action: The "Line in the Sand"
The technicals are currently balanced on a knife-edge. We’ve seen a clear Falling Wedge pattern on the 4-hour chart, which is a classic bullish reversal signal.
•Support: The absolute "must-hold" level is $0.0068. We’ve seen buyers defend this zone aggressively twice in the last 24 hours.
•Resistance: The first major hurdle is the 20-day EMA at $0.0082. Reclaiming this level would confirm a trend shift from bearish to neutral-bullish.
Target: If the breakout from the wedge confirms with volume, the short-term Elliott target for the start of Wave 3 sits at $0.0115, representing a potential ~60% upside from current levels.
💡 The Verdict
The RSI is currently hovering near the oversold boundary (30-35), suggesting that the selling pressure is reaching a point of diminishing returns. Combine this with the fundamental news of the Kayon AI engine rollout, and you have a setup that looks like a classic "coiling spring."
My Strategy: I’m looking for a solid daily close above $0.0076 to confirm that the bottom is in. A failure to hold $0.0068 would invalidate this bullish wave count and suggest a longer period of consolidation.
Not financial advice. Markets are highly volatile always protect your capital and #dyor #vanar #VANRY