DOGEUSD Elliott Wave Analysis - TradingLounge Daily Chart
Dogecoin (DOGE) / U.S. Dollar (USD)
DOGEUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Next Higher Degree Direction: Wave (II) of Impulse
Invalidation Level: Key Wave Cancel Level
Details: Wave (II) may be concluding as the price shows upward momentum, moving into wave (III), suggesting the beginning of a new trend.
DOGEUSD Trading Strategy
With wave II correction appearing complete, focus is now on the potential five-wave rally within wave III. Price action remains in an uptrend, making this a possible re-entry point for traders following the upward trend.
DOGEUSD Technical Indicators
- Moving Average: Price remains above the MA200, signaling sustained bullish momentum.
- Wave Oscillator: Indicates bullish momentum supporting the upward trend.
DOGEUSD Elliott Wave Analysis - 4-Hour Chart Analysis
Dogecoin (DOGE) / U.S. Dollar (USD) Pair
DOGEUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Next Higher Degree Direction: Wave (II) of Impulse
Invalidation Level: Key Wave Cancel Level
Details: The conclusion of wave (II) appears likely, as the price rises in wave (III), suggesting potential for trend continuation.
DOGEUSD Trading Strategy
The wave II correction phase seems to be ending, with attention now on the anticipated five-wave rally in wave III. Price action signals a continued uptrend, providing a re-entry opportunity for trend-focused traders.
DOGEUSD Technical Indicators
Technical Analyst: Kittiampon Somboonsod
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