06Jan

Dogecoin Price Forecast: Elliott Wave Technical Analysis, MA200 Uptrend Insights, Wave V Targets, and Strategic Trading Tips

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

DOGEUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction (Next Higher Degrees): Wave ((Y)) of IV

Wave Cancelation Level: Not specified

Details: The corrective Wave IV may have concluded, signaling a potential price increase as Wave V begins.

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

  • Wave IV appears to have ended at 0.2626, paving the way for a rally above 0.4804 in Wave V.
  • Potential resistance lies at 0.6174, which may be tested if bullish momentum persists.

DOGEUSD Technical Indicators

  • The price is trading above the MA200, indicating an uptrend.
  • The Wave Oscillator signals bullish momentum, supporting the likelihood of an upward movement.

DOGEUSD-1D-CRYPTO-CH...


Dogecoin/U.S. Dollar (DOGEUSD) TradingLounge  4-Hour Chart Analysis

DOGEUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction (Next Higher Degrees): Wave ((Y)) of IV

Wave Cancelation Level: Not specified

Details: The corrective Wave IV may have concluded, with the price positioned for a potential increase in Wave V.

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

  • Wave IV appears to have ended at 0.2626, setting the stage for a rally above 0.4804 in Wave V.
  • Key resistance at 0.6174 may act as a target if the uptrend continues.

DOGEUSD Technical Indicators

  • The price remains above the MA200, confirming a prevailing uptrend.
  • The Wave Oscillator suggests bullish momentum, aligning with a probable upward price trajectory.

Technical Analyst: Kittiampon Somboonsod

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

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