DOTUSD Elliott Wave Analysis - TradingLounge Daily Chart

DOT/USD (DOTUSD) Daily Chart Analysis

DOTUSD Elliott Wave Technical Analysis

• Function: Counter Trend
• Mode: Corrective
• Structure: Double Corrective
• Position: Wave ((Y))
• Direction Next Higher Degrees: Wave II
• Wave Cancel Invalid Level: Not specified

Details: The decline in Wave Y appears to be concluding, with DOTUSD likely to re-enter its uptrend.

DOT/USD (DOTUSD) Trading Strategy

The Wave II correction seems to end, suggesting the price is re-aligning with the main uptrend. Traders should look for opportunities to re-enter positions aligned with the upward trend.

DOT/USD (DOTUSD) Technical Indicators

• The price is currently below the MA200, indicating a bearish trend.

• The Wave Oscillator is showing Bearish Momentum.

DOTUSD Elliott Wave Analysis - TradingLounge H4 Chart

DOT/USD (DOTUSD) 4-Hour Chart Analysis

DOTUSD Elliott Wave Technical Analysis

• Function: Counter Trend
• Mode: Corrective
• Structure: Double Corrective
• Position: Wave ((Y))
• Direction Next Higher Degrees: Wave II
• Wave Cancel Invalid Level: Not specified

Details: The decline in Wave II is critical. Be cautious, as a drop below 3.566 could invalidate the current uptrend.

DOT/USD (DOTUSD) Trading Strategy

The Wave II correction appears to be concluding, with the price likely re-entering the main uptrend. Look for potential opportunities to re-join the upward trend.

DOT/USD (DOTUSD) Technical Indicators

• The price remains below the MA200, signalling a downtrend.

• The Wave Oscillator indicates Bearish Momentum.

Technical Analyst:  Kittiampon Somboonsod

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See Previous: Uniswap / U.S. Dollar (UNIUSD) Elliott Wave Technical Analysis

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