Dogecoin/ U.S. Dollar (DOGEUSD) Elliott Wave Analysis TradingLounge Daily Chart

DOGEUSD Elliott Wave Technical Analysis

Function: Counter-trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Direction (Next Higher Degrees): Wave ((C)) of Zigzag

Wave Cancel Invalid Level: N/A

Details: Wave 2 is nearing completion, and the price is likely beginning its rise in Wave 3.

Dogecoin/ U.S. Dollar (DOGEUSD) Trading Strategy

• Wave II correction appears complete. Attention shifts to the five-wave rally in Wave III.
• Price action shows a persistent uptrend, with a focus on re-entering the trend during potential pullbacks.

Dogecoin/ U.S. Dollar (DOGEUSD) Technical Indicators

• The price is trading above the MA200, confirming a bullish trend.
• The Wave Oscillator reflects strong bullish momentum.

Dogecoin/ U.S. Dollar (DOGEUSD) Elliott Wave Technical Analysis – 4H Chart

DOGEUSD Elliott Wave Technical Analysis

Function: Counter-trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Direction (Next Higher Degrees): Wave ((C)) of Zigzag

Wave Cancel Invalid Level: N/A

Details: Wave 2 is nearing completion, with the price expected to rise again in Wave 3.

Dogecoin/ U.S. Dollar (DOGEUSD) Trading Strategy

• The correction in Wave II appears to be finalized, aligning focus on the anticipated five-wave rally in Wave III.
• The upward trend remains intact, providing opportunities for trend re-entry.

Dogecoin/ U.S. Dollar (DOGEUSD) Technical Indicators

• The price remains above the MA200, confirming the bullish trajectory.
• The Wave Oscillator highlights positive momentum, supporting the upward movement.

Technical Analyst: Malik Awais

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