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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 is overall still in a period of correction. In wave (II) with a double corrective pattern, a short-term pullback is expected before rising again in wave (III). Wait for the correction to complete before rejoining 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 is overall still in a period of correction. In wave (II) with a double corrective pattern, a short-term pullback is expected before rising again in wave (III). Wait for the correction to complete before rejoining 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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