DOGEUSD Elliott Wave Analysis TradingLounge Daily Chart,
Dogecoin/ U.S. Dollar (DOGEUSD)
DOGEUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Direction Next Higher Degrees: Wave IV of Impulse
Wave Cancel Invalid Level:
Details: Wave IV may be complete, and the price is increasing again in Wave V.
Dogecoin/ U.S. Dollar (DOGEUSD) Trading Strategy:
Overall, Dogecoin remains in an uptrend. It appears that the correction is over, and prices are rising again in the fifth wave. However, there may be a slight pullback before continuing to increase. Look for opportunities to join the uptrend.
Dogecoin/ U.S. Dollar (DOGEUSD) Technical Indicators:
- The price is above the MA200, indicating an uptrend.
- The Wave Oscillator shows bullish momentum.
Dogecoin's performance against the U.S. Dollar has been analyzed using the Elliott Wave theory, which shows the market's potential moves based on crowd psychology. Currently, the analysis suggests we are in a counter-trend corrective mode, forming a zigzag pattern. This analysis is at Wave ((C)) level, which corresponds to Wave IV of the larger impulse wave.
DOGEUSD Elliott Wave Analysis TradingLounge H4 Chart,
Dogecoin/ U.S. Dollar (DOGEUSD)
DOGEUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave ((3))
Direction Next Higher Degrees: Wave V of Impulse
Wave Cancel Invalid Level:
Details: Wave ((3)) is equal to 161.8% of Wave ((1)) at 0.2488.
Dogecoin/ U.S. Dollar (DOGEUSD) Trading Strategy:
Overall, Dogecoin remains in an uptrend. It appears that the correction is over, and prices are rising again in the fifth wave. However, there may be a slight pullback before continuing to increase. Look for opportunities to join the uptrend.
Dogecoin/ U.S. Dollar (DOGEUSD) Technical Indicators:
- The price is above the MA200, indicating an uptrend.
- The Wave Oscillator shows bullish momentum.
On the 4-hour chart, Dogecoin follows the trend in a motive wave, specifically in an impulse mode. The current position is at Wave ((3)), which is often the strongest and most extended wave in an impulse sequence. Wave ((3)) has reached 161.8% of Wave ((1)), hitting 0.2488, suggesting significant bullish momentum.
Technical Analyst: Kittiampon Somboonsod
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
See Previous: Bitcoin/ U.S. dollar(BTCUSD) Elliott Wave Technical Analysis
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