Elliott Wave Analysis TradingLounge Daily Chart, 20 September 2022, Dogecoin (DOGE-X)

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DOGEUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (3)
Direction Next higher Degrees: wave (3) of ((5))
Details: In the sub-wave of wave (3), the price continues to decline. but must not be higher than 0.655
Wave Cancel invalid Level : 0.089
Dogecoin (DOGEUSD) Trading Strategy: Bear Market Efforts The price tends to trade below the .0.0559 level as the price has already tested resistance at the MA50, and MA200 area and failed to pass. The price is likely to reverse the downtrend again.

Dogecoin (DOGEUSD)Technical Indicators: The price is below the MA50, and MA200 line indicating a downtrend.

TradingLounge Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 20 September 2022, Dogecoin (DOGEUSD)
DOGEUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (3)
Direction Next higher Degrees: wave 2 of (3)
Details: In the sub-wave of wave (3), the price continues to decline. but must not be higher than 0.655
Wave Cancel invalid Level : 0.089
Dogecoin (DOGEUSD) Trading Strategy: Bear Market Efforts The price tends to trade below the .0.0559 level as the price has already tested resistance at the MA50, and MA200 area and failed to pass. The price is likely to reverse the downtrend again.

Dogecoin (DOGEUSD)Technical Indicators: MACD Histogram have a Hidden Bearish divergence, and the price has an opportunity reversal.

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