After reaching the low at $2.6, VeChain recovered reaching the $7.1, and managed to break above the 61.8% level, suggesting the validity of the uptrend. But now, VEN/USD is trading at the key , and the daily close below $4.7 would confirm the support and the Fann breakout. In this case, the price is likely to move down once again towards either $3.8, $2.4 or $1.27 support levels.
However if VeChain will avoid daily close below $4.7, the price could continue moving higher and potentially hit the $10 psychological . In any case, the major trend is up, but the risk of further correction down remains.