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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)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.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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