DOTUSD Elliott Wave Analysis: Polkadot Crypto Daily Chart

DOTUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave C

Direction (Next Higher Degree): Wave (II) of Impulse

Invalidation Level: Wave II equals 61.8% of Wave I at 5.225

DOTUSD Trading Strategy:

The ongoing correction in DOTUSD is approaching its final phase in Wave C. This phase is likely to test the 5.245 level before entering a new upward trend in Wave 3. Traders should wait for this correction to complete before joining the uptrend.

Polkadot Technical Indicators:

  • Moving Average (MA200): The price is above the 200-day moving average, indicating an overall uptrend.
  • Wave Oscillator: The momentum is bullish.

Daily Chart Analysis: DOTUSD

Counter Trend and Corrective Mode

The current corrective structure in DOTUSD, identified as a flat formation, is in the final phase of Wave C. According to Elliott Wave principles, this Wave C is part of a larger corrective Wave (II). The key level to watch is 5.225, which is where Wave II equals 61.8% of Wave I.

DOTUSD-1D-Crypto-Cha...


DOTUSD Elliott Wave Analysis: Polkadot Crypto H4 Chart

DOTUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 4

Direction (Next Higher Degree): Wave C of Flat

Invalidation Level:

Details: A short-term pullback in Wave 4 is expected before a continuation in Wave 5.

Polkadot ​​​​​​​Trading Strategy:

DOTUSD remains in an uptrend. The correction appears to be over, and prices are rising in the fifth wave. However, a slight pullback may occur before the continuation of the uptrend. Traders should look for opportunities to join the uptrend during these pullbacks.

DOTUSD Technical Indicators:

  • Moving Average (MA200): The price is above the 200-day moving average, indicating an overall uptrend.
  • Wave Oscillator: The momentum is bullish.

H4 Chart Analysis: DOTUSD

Follow Trend and Motive Mode

On the H4 chart, DOTUSD is in a motive phase, with the current structure being an impulse wave. The price is experiencing a short-term pullback in Wave 4, which is expected before the continuation of the downtrend in Wave 5.

Technical Analyst:  Kittiampon Somboonsod

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DOTUSD-4H-Crypto-Cha...

Conclusion

Elliott Wave Analysis provides a structured approach to understanding market movements. For Polkadot (DOTUSD), the daily and H4 charts indicate a bullish trend, with corrective and motive waves suggesting strategic entry points for traders. The completion of Wave C on the daily chart and the anticipated Wave 5 on the H4 chart offer potential opportunities for profit.

 

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