DOTUSD Elliott Wave Analysis - TradingLounge Daily Chart

Polkadot/U.S. Dollar (DOTUSD) Day 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: Not specified

Details: Wave II is equal to 61.8% of Wave I at 5.225

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

Polkadot remains in a correction phase. Currently in wave (II) with a double corrective pattern, anticipating a short-term pullback before an upward movement in wave (III). Awaiting the correction's completion 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 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: Not specified

Details: Wave II is equal to 61.8% of Wave I at 5.225

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

Polkadot remains in a correction phase. Currently in wave (II) with a double corrective pattern, anticipating a short-term pullback before an upward movement in wave (III). Awaiting the correction's completion 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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