Elliott Wave Technical Analysis: Polkadot / U.S. Dollar, Tuesday, Dec. 13

Elliott Wave Analyst - tradinglounge • Dec 13, 2022 at 3:25 AM EST

Polkadot is still under selling pressure as it remains below MA200 and MA50, but showing signs of recovery from the 4.972 level, but selling pressure remains. Even so, the price structure in the downtrend has already ended at the level of 4.972.

Elliott Wave Analysis TradingLounge Daily Chart, December 13, 2022.

Polkadot / U.S. Dollar (DOT-X)

DOTUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Diagonal

Position: Wave 5

Direction Next higher Degrees: Sub-wave of Wave C

Details: wave 5 in diagonal is likely to end at the level of 4.972

Wave Cancel invalid level:4.972

Polkadot / U.S. dollar (DOTUSD)Trading Strategy: Polkadot is still under selling pressure as it remains below MA200 and MA50, but showing signs of recovery from the 4.972 level, but selling pressure remains. But even so, as we believe, the price structure in the downtrend has already ended at the level of 4.972, if it falls below, An idea in an uptrend will be broken.

Polkadot / U.S. dollar (DOTUSD) Technical Indicators: The price is below the MA200 MA50,indicating a downtrend. The wave oscillators below Zero-Line momentum are bearish

TradingLounge Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, December 13, 2022.

Polkadot / U.S. dollar (DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Diagonal

Position: Wave 5

Direction Next higher Degrees: Sub-wave of Wave C

Details: wave 5 in diagonal is likely to end at the level of 4.972

Wave Cancel invalid level:4.972

Polkadot / U.S. dollar (DOTUSD)Trading Strategy: Polkadot is still under selling pressure as it remains below MA200 and MA50, but showing signs of recovery from the 4.972 level, but selling pressure remains. But even so, as we believe, the price structure in the downtrend has already ended at the level of 4.972, if it falls below, An idea in an uptrend will be broken.

Polkadot / U.S. dollar (DOTUSD) Technical Indicators: The price is below the MA200 MA50,indicating a downtrend. The wave oscillators below Zero-Line momentum are bearish.

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