DOGEUSD Elliott Wave Analysis – TradingLounge Daily Chart

Dogecoin/ U.S. Dollar (DOGEUSD) Daily Chart Analysis

DOGEUSD Elliott Wave Technical Analysis

Function: Counter-Trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Next Higher Degree Direction: Wave ((C)) of Zigzag

Wave Cancel Invalid Level: N/A

Details: Wave 2 appears to have completed, and the price is rebounding within Wave 3.

DOGEUSD Trading Strategy

The corrective phase of Wave II seems to be completed. The focus now shifts to the potential five-wave rally forming Wave III. The price action indicates a strong uptrend, signaling opportunities for re-entry into the trend.

DOGEUSD Technical Indicators

• The price is trading above the MA200, confirming a bullish trend.

• The Wave Oscillator indicates robust bullish momentum.

DOGEUSD Elliott Wave Analysis – 4-Hour Chart

Dogecoin/ U.S. Dollar (DOGEUSD) Crypto Analysis

DOGEUSD Technical Analysis

Function: Counter-Trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Next Higher Degree Direction: Wave ((C)) of Zigzag

Wave Cancel Invalid Level: N/A

Details: Wave 2 appears to have ended, with prices beginning to rise as Wave 3 unfolds.

DOGEUSD Trading Strategy

Wave II's correction phase is likely complete, highlighting the development of Wave III's five-wave rally. The upward price momentum suggests a continuation of the trend, offering traders a re-entry opportunity.

DOGEUSD Technical Indicators

• The price is consistently trading above the MA200, signaling an ongoing uptrend.

• The Wave Oscillator confirms strong bullish momentum.

Technical Analyst: Malik Awais

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