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
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