DOGEUSD Elliott Wave Analysis: Daily Chart Overview
Dogecoin / U.S. Dollar (DOGEUSD) Daily Chart Analysis
DOGEUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Next Higher Degree Direction: Wave II of Impulse
Wave Cancelation Level: Not applicable
Details: The corrective Wave (II) appears to be completed, suggesting a potential entry into a new uptrend phase.
Dogecoin / U.S. Dollar (DOGEUSD) Trading Strategy:
The wave 2 correction looks finalized, and the price is expected to continue upward. Traders may consider looking for opportunities to join the developing wave 2 uptrend.
Dogecoin / U.S. Dollar (DOGEUSD) Technical Indicators:
- The price remains above the 200-day moving average (MA200), signaling an uptrend.
- The Wave Oscillator shows bearish momentum, indicating caution.
DOGEUSD Elliott Wave Analysis: H4 Chart Overview
Dogecoin / U.S. Dollar (DOGEUSD) 4-Hour Chart Analysis
DOGEUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Next Higher Degree Direction: Wave II of Impulse
Wave Cancelation Level: Not applicable
Details: The corrective Wave II is possibly complete, signalling the start of a potential uptrend.
Dogecoin / U.S. Dollar (DOGEUSD) Trading Strategy:
The wave 2 correction is likely over, and the price may continue its upward trend, presenting an opportunity to enter during wave 3's progression.
Dogecoin / U.S. Dollar (DOGEUSD) Technical Indicators:
- The price remains above the MA200, indicating an ongoing uptrend.
- The Wave Oscillator still shows bearish momentum, which may affect near-term price movement.
Technical Analyst: Kittiampon Somboonsod
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