DOTUSD Elliott Wave Analysis TradingLounge Daily Chart
Polkadot/ U.S. dollar (DOTUSD) Daily Chart Analysis
DOTUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave C
Direction Next Higher Degrees: Wave (II) of Impulse
Wave Cancel Invalid Level:
Details: Wave II is equal to 61.8% of Wave I at 5.225
Polkadot/ U.S. dollar (DOTUSD) Trading Strategy:
Polkadot is currently in a correction phase. Positioned in wave (II) with a double corrective pattern, a short-term pullback is expected before wave (III) rises. Traders should wait for the correction to finish to rejoin the uptrend.
Polkadot/ U.S. dollar (DOTUSD) Technical Indicators:
- Price is below the MA200, indicating a downtrend.
- The Wave Oscillator shows Bearish Momentum.
DOTUSD Elliott Wave Analysis TradingLounge H4 Chart
Polkadot/ U.S. dollar (DOTUSD) 4-Hour Chart Analysis
DOTUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Flat
Position: Wave C
Direction Next Higher Degrees: Wave (II) of Impulse
Wave Cancel Invalid Level:
Details: Wave II is equal to 61.8% of Wave I at 5.225
Polkadot/ U.S. dollar (DOTUSD) Trading Strategy:
Polkadot is currently in a correction phase. Positioned in wave (II) with a double corrective pattern, a short-term pullback is expected before wave (III) rises. Traders should wait for the correction to finish to rejoin the uptrend.
Polkadot/ U.S. dollar (DOTUSD) Technical Indicators:
- Price is below the MA200, indicating a downtrend.
- The Wave Oscillator shows Bearish Momentum.
Technical Analyst: Kittiampon Somboonsod
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