DOTUSD Elliott Wave Analysis | TradingLounge Daily Chart

DOT/USD Daily Chart Technical Forcast

DOT/USD (DOTUSD) Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Next Higher Degree: Wave IV

Invalidation Level: N/A

Details: Wave IV is nearing completion, with a potential price drop towards the 2.406 level.

DOT/USD (DOTUSD) Trading Strategy

The current market is in a V wave retracement of wave (C). We are in the final stages of wave C, likely to test the 2.406 level. This points to a short-term retracement before a potential rally resumes.

DOT/USD (DOTUSD) Technical Indicators:

• Price remains below the 200-day Moving Average (MA200), signaling a downtrend.
• The Wave Oscillator shows bearish momentum.

DOT/USD (DOTUSD) Elliott Wave Analysis | 4-Hour Chart

DOTUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Next Higher Degree: Wave IV

Invalidation Level: N/A

Details: Wave IV is nearing completion, with a potential price drop towards the 2.406 level.

DOT/USD (DOTUSD) Trading Strategy

The V wave retracement of wave (C) is reaching its final stages. The price is likely to test the 2.406 level, suggesting a short-term retracement before another upward rally.

DOT/USD (DOTUSD) Technical Indicators:

• Price remains below the 200-day Moving Average (MA200), signaling a downtrend.
• The Wave Oscillator indicates bearish momentum.

Technical Analyst:  Kittiampon Somboonsod

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