DOGEUSD Elliott Wave Analysis - TradingLounge Daily Chart

Dogecoin/ U.S. Dollar (DOGEUSD) Day Chart Analysis

DOGEUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Next Higher Degree: Wave I of Impulse

Invalidation Level:

Details: Wave ((3)) is projected to test the 161.8% Fibonacci extension level of wave ((1)).

Dogecoin/ U.S. Dollar (DOGEUSD) Trading Strategy:
The Wave IV correction appears to be complete, indicating a potential continuation of the upward trend. Traders should look for opportunities to enter the market during Wave V's uptrend.

Dogecoin/ U.S. Dollar (DOGEUSD) Technical Indicators:

• The price is trading above the 200-period Moving Average (MA200), signaling an uptrend.
• The Wave Oscillator shows bearish momentum, which should be monitored closely.

DOGEUSD Elliott Wave Analysis - TradingLounge H4 Chart

Dogecoin/ U.S. Dollar (DOGEUSD) 4-Hour Chart Analysis

DOGEUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Next Higher Degree: Wave I of Impulse

Invalidation Level:

Details: Wave ((3)) is likely to target the 161.8% Fibonacci extension level of wave ((1)).

Dogecoin/ U.S. Dollar (DOGEUSD) Trading Strategy:
The Wave (2) correction appears to be over, and the price may continue upward. Traders should seek opportunities to join the uptrend during Wave (3).

Dogecoin/ U.S. Dollar (DOGEUSD) Technical Indicators:

• The price remains above the 200-period Moving Average (MA200), suggesting an ongoing uptrend.
• The Wave Oscillator indicates bearish momentum, which warrants attention.

Technical Analyst:  Kittiampon Somboonsod

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: Bitcoin/U.S. Dollar (BTCUSD) Elliott Wave Technical Analysis

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