Elliott Wave Technical Analysis: Polkadot Crypto Price News

Elliott Wave Analysis - TradingLounge Daily Chart,
Polkadot / U.S. Dollar (DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave V

Direction Next Higher Degrees: —

Wave Cancel Invalid Level: —

Polkadot / U.S. Dollar (DOTUSD) Trading Strategy:
Following a significant pullback from $11.653 to $3.472 in a 5-wave bearish impulse (Wave I–V), DOTUSD now shows clear signs of a bullish reversal. This is marked by the formation of a new Wave I. Wave I is advancing toward its potential peak with a key resistance at $4.486. A break above this point could build a strong base for Wave II, leading to Wave III, historically the most powerful in the Elliott Wave cycle.

Trading Strategies

Strategy

Short-Term Traders (Swing Trade)

Await a pullback in Wave II

Look to re-enter at the start of Wave III

Risk Management: —

Elliott Wave Analysis - TradingLounge H4 Chart,
Polkadot / U.S. Dollar (DOTUSD)

DOTUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next Higher Degrees: —

Wave Cancel Invalid Level: —

Polkadot / U.S. Dollar (DOTUSD) Trading Strategy:
After completing a Wave V low at $3.472 on the Daily chart, DOTUSD began forming a new Wave I uptrend. Currently, it is in Wave 3 of Wave I. The next technical target aligns with the 1.618 Fibonacci extension at approximately $4.486.

Trading Strategies

Strategy

Short-Term Traders (Swing Trade)

Trade with the momentum in Wave 3

Watch for Wave 4 pullback and prepare for Wave 5 entry

Risk Management: —

TradingLounge Analyst: Kittiampon Somboonsod, CEWA


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