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 IV

Wave Cancel Invalid Level: N/A

Details: Wave IV is approaching completion, and the price is expected to decline to 2.406.

DOT/USD (DOTUSD) Trading Strategy

• The market is in the final phase of a five-wave retracement, specifically in wave V. This wave is expected to test the 2.406 price level, confirming the continuation of the downtrend.

DOT/USD (DOTUSD) Technical Indicators

• Moving Average (MA200): The price is currently below the MA200, indicating a bearish trend.

• Wave Oscillator: Bearish momentum is present.

DOTUSD Elliott Wave Analysis – TradingLounge 4H Chart

DOT/USD (DOTUSD) 4H Chart Analysis

DOTUSD Crypto Pair Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction Next Higher Degrees: Wave IV

Wave Cancel Invalid Level: N/A

Details: Wave IV is nearing completion, with an expected price drop to the 2.406 level.

DOT/USD (DOTUSD) Trading Strategy

• The market is completing a five-wave retracement, with wave V expected to reach the 2.406 level, reinforcing the downtrend outlook.

DOT/USD (DOTUSD) Technical Indicators

• Moving Average (MA200): The price remains below the MA200, confirming the bearish trend.
• Wave Oscillator: Shows continued bearish momentum.

Technical Analyst:  Kittiampon Somboonsod

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

See Previous: VeChain/ U.S. Dollar (VETUSD) Elliott Wave Technical Analysis

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