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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