Dogecoin (DOGEUSD) Elliott Wave Analysis – Daily Charts
DOGEUSD Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Flat
Position: Wave C
Next Higher Degree Direction: Wave (III) of Impulse
Wave Cancellation Level: Not specified
Details: The ongoing correction in Wave C is still unfolding, indicating that the market is preparing for a potential reversal. Traders should wait for confirmation before anticipating an uptrend resumption.
Dogecoin (DOGEUSD) Trading Strategy – Daily Chart
DOGE/USD has been in a consistent downtrend from its 0.4846 USD peak, now progressing through the final phase of Wave C in the WXY corrective pattern. Currently, Wave (5) is forming in the ongoing bearish movement.
Trading Strategies – Daily Chart
Long Strategy
✅ Buy at Key Support Levels:
- Short-Term Buy Opportunity: A potential entry can be considered if the price bounces from 0.1822 USD, especially if the RSI signals a recovery from oversold conditions.
Risk Management
- Invalidation Level: If DOGE/USD drops below 0.0816 USD, the bullish structure will be considered invalid.
Dogecoin (DOGEUSD) Elliott Wave Analysis – H4 Chart
DOGEUSD Elliott Wave Technical Analysis
Function: Counter-Trend
Mode: Corrective
Structure: Flat
Position: Wave C
Next Higher Degree Direction: Wave (III) of Impulse
Wave Cancellation Level: Not specified
Details: Wave C is still unfolding, and the market remains in a corrective phase before any potential bullish reversal. Traders should wait for confirmation of a shift before taking positions.
Dogecoin (DOGEUSD) Trading Strategy – H4 Chart
The price action remains bearish, with DOGE/USD moving lower from its 0.4846 USD high, now progressing through Wave C of the WXY pattern. The current wave structure suggests that Wave (5) is developing in the ongoing correction.
Trading Strategies – H4 Chart
Long Strategy
✅ Buy at Key Support Levels:
- Short-Term Buy Opportunity: A possible entry exists if the price rebounds near 0.1822 USD, supported by an RSI recovery from the oversold zone.
Risk Management
- Invalidation Level: A drop below 0.0816 USD invalidates the bullish outlook.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
Previous: BTCUSD Elliott Wave Technical Analysis
VALUE Offer - Buy 1 Month & Get 3 Months!Click here
Access 7 Analysts Over 200 Markets Covered. Chat Room With Support
