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Elliott Wave Analysis TradingLounge Daily Chart

Polkadot/ U.S. dollar(DOTUSD)

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:

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

Polkadot/ U.S. dollar(DOTUSD)Trading Strategy:
Polkadot overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is for a short-term pullback before rising again in wave (III). Wait for the correction to complete to rejoin the uptrend.

Polkadot/ U.S. dollar(DOTUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge H4 Chart

Polkadot/ U.S. dollar(DOTUSD)

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:

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

Polkadot/ U.S. dollar(DOTUSD)Trading Strategy:
Polkadot overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is for a short-term pullback before rising again in wave (III) Wait for the correction to complete to rejoin the uptrend.

Polkadot/ U.S. dollar(DOTUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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