DOGEUSD Elliott Wave Analysis – TradingLounge Daily Chart
Dogecoin/ U.S. Dollar (DOGEUSD) Daily Chart Analysis
DOGEUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Next Higher Degree: Wave (II) of Impulse
Wave Cancel Invalid Level: N/A
Details: Wave (II) is possibly incomplete. The price may likely remain below the $0.076 level.
Dogecoin/ U.S. Dollar (DOGEUSD) Trading Strategy:
We are currently witnessing a 5-wave retracement of wave (C), and we are in the final stages of wave Y. This retracement is expected to test the $0.076 level. In the bigger picture, this is a short-term retracement before a potential rally resumes.
Dogecoin/ U.S. Dollar (DOGEUSD) Technical Indicators:
- The price is currently trading below the 200-day moving average (MA200), signaling a downtrend.
- The Wave Oscillator is showing bearish momentum, reinforcing the bearish outlook.
DOGEUSD Elliott Wave Analysis – TradingLounge 4-Hour Chart
Dogecoin/ U.S. Dollar (DOGEUSD) Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Next Higher Degree: Wave (II) of Impulse
Wave Cancel Invalid Level: N/A
Details: Wave (II) may still be incomplete, with the price likely staying below $0.076.
Dogecoin/ U.S. Dollar (DOGEUSD) Trading Strategy:
Similar to the daily chart, this is a 5-wave retracement of wave (C), and we are in the final stages of wave Y. The price is expected to test the $0.076 level, indicating a short-term correction before another potential rally.
Dogecoin/ U.S. Dollar (DOGEUSD) Technical Indicators:
- The price remains below the 200-period moving average (MA200), indicating a prevailing downtrend.
- The Wave Oscillator reflects bearish momentum, adding to the overall downtrend outlook.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here See
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