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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

DOT/ U.S. dollar(DOTUSD)Trading Strategy:
Overall, the correction in DOTUSD is entering its final phase in Wave C, likely testing the 5.245 level before rising again in Wave 3. Wait for the correction to complete before joining the uptrend again.

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

Elliott Wave Analysis TradingLounge H4 Chart

DOT/ U.S. dollar(DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 4

Direction Next higher Degrees: wave C of Flat

Wave Cancel invalid level: 

Details: A short-term pullback in wave 4 before falling again in wave 5.

DOT/ U.S. dollar(DOTUSD)Trading Strategy:
Overall, the correction in DOTUSD is entering its final phase in Wave C, likely testing the 5.245 level before rising again in Wave 3. Wait for the correction to complete before joining the uptrend again.

DOT/ U.S. dollar(DOTUSD)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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