DOGEUSD Elliott Wave Analysis: TradingLounge Daily Chart

Dogecoin/U.S. Dollar (DOGEUSD) Daily Chart Analysis

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Next Higher Degree Direction: Wave I of Impulse

Wave Cancel Invalid Level:

Details: Wave ((4)) may be complete, and the price may re-enter an uptrend.

Dogecoin/U.S. Dollar (DOGEUSD) Trading Strategy:

Dogecoin is currently in a corrective phase. Positioned in wave (II) with a Zigzag pattern, the expectation is a short-term pullback before a rise in wave (III). Await the correction completion to rejoin the uptrend.

Dogecoin/U.S. Dollar (DOGEUSD) Technical Indicators:

• The price is below the MA200, indicating a downtrend.
• The Wave Oscillator shows bearish momentum.

DOGEUSD Elliott Wave Analysis: TradingLounge H4 Chart

Dogecoin/U.S. Dollar (DOGEUSD) 4-Hour Chart Analysis

DOGEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave A

Next Higher Degree Direction: Wave V of Impulse

Wave Cancel Invalid Level:

Details: Wave ((2)) equals 61.8% of Wave ((1)) at 0.1373.

Dogecoin/U.S. Dollar (DOGEUSD) Trading Strategy:

Dogecoin remains in a corrective phase. Positioned in wave (II) with a Zigzag pattern, a short-term pullback is expected before rising again in wave (III). Await the correction's completion to rejoin the uptrend.

Dogecoin/U.S. Dollar (DOGEUSD) 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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