Elliott Wave Technical Analysis: Dogecoin Crypto Price News For Tuesday, May 28

Image by KNFind from Pixabay

Elliott Wave Analysis TradingLounge Daily Chart

Dogecoin/ U.S. dollar(DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Direction Next higher Degrees: Wave IV of Impulse

Wave Cancel invalid Level:

Details: Wave IV May is complete and the price increase again in Wave V

Dogecoin/ U.S. dollar(DOGEUSD)Trading Strategy:
Overall, Dogecoin remains in an uptrend. Moreover, it looks like the correction is over, and prices are rising again in the fifth wave. However, there may be a slight pullback before further increases. Look for opportunities to join the uptrend.

Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators:
The price is above the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.

Elliott Wave Analysis TradingLounge H4 Chart

Dogecoin/ U.S. dollar(DOGEUSD)

DOGEUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Direction Next higher Degrees: Wave V of Impulse

Wave Cancel invalid Level:

Details: wave ((3)) Is Equal to 161.8% of Wave ((1)) at 0.2488

Dogecoin/ U.S. dollar(DOGEUSD)Technical Indicators:
The price is above the MA200, indicating an uptrend. The Wave Oscillator shows bullish momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com