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 equals 61.8% of Wave I at 5.225.

Polkadot/ U.S. Dollar (DOTUSD) Trading Strategy

Polkadot is currently in a corrective phase. Positioned in wave (II) with a double corrective pattern, the forecast is for a short-term pullback before rising again in wave (III). It's advisable to wait for the correction to finish to rejoin the uptrend.

Polkadot/ U.S. Dollar (DOTUSD) Technical Indicators

• The price is below the MA200, indicating a downtrend.
• The Wave Oscillator shows Bearish Momentum.

DOTUSD Elliott Wave Analysis TradingLounge 4H 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 equals 61.8% of Wave I at 5.225.

Polkadot/ U.S. Dollar (DOTUSD) Trading Strategy

Polkadot is currently in a corrective phase. Positioned in wave (II) with a double corrective pattern, the forecast is for a short-term pullback before rising again in wave (III). It's advisable to wait for the correction to finish to rejoin the uptrend.

Polkadot/ U.S. Dollar (DOTUSD) Technical Indicators

• The price is below the MA200, indicating a downtrend.
• The Wave Oscillator shows Bearish Momentum.

Technical Analyst:  Kittiampon Somboonsod

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

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