TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Dogecoin Elliott Wave technical analysis [Video]

Dogecoin Elliott Wave technical analysis [Video]
Peter MathersPeter MathersTradingLounge

DOGE/USD Elliott Wave technical analysis 

Function: Counter trend.

Mode: Corrective.

Structure: Zigzag.

Position: Wave ((C)).

Direction next higher degrees: Wave IV of impulse.

Details: Wave IV May is complete and the price increase again in wave V.

DOGE/USD trading strategy

Overall, Dogecoin remains in an uptrend. Moreover, it looks like the correction is over. And prices are rising again in the fifth wave. But there may be a slight pullback before increasing. So look for opportunities to join the uptrend.

DOGE/USD technical indicators

The price is above the MA200 indicating an uptrend, the wave oscillator is a bullish momentum.

DOGE/USD Elliott Wave technical analysis 

Function: Follow trend.

Mode: Motive.

Structure: Impulse.

Position: Wave ((3)).

Direction next higher degrees: Wave V of impulse.

Details: Wave ((3)) is equal to 161.8% of wave ((1)) at 0.2488.

DOGE/USD trading strategy

Overall, Dogecoin remains in an uptrend. Moreover, it looks like the correction is over. And prices are rising again in the fifth wave. But there may be a slight pullback before increasing. So look for opportunities to join the uptrend.

DOGE/USD technical indicators

The price is above the MA200 indicating an uptrend, the wave oscillator is a bullish momentum.

DOGE/USD Elliott Wave technical analysis [Video]

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

More from Peter Mathers
Share:

Editor's Picks

Japanese Yen gains after hawkish Fed hold

Japanese Yen gains after hawkish Fed hold

USD/JPY trades near the 163.60 area on Wednesday, recovering from its immediate post-announcement decline as investors assess a generally hawkish Federal Reserve (Fed) monetary policy decision. The Federal Open Market Committee (FOMC) left the Fed funds rate unchanged within the 3.50%–3.75% range, as widely expected.
XRP edges up as Flare simplifies staking process

XRP edges up as Flare simplifies staking process

Ripple (XRP) holds modest gains, trading around $1.08 at the time of writing on Wednesday. The remittance token mirrors the general neutral-to-bullish outlook in the crypto market, as focus shifts to the Federal Reserve (Fed) rate decision. Market participants widely expect the Fed to leave interest rates unchanged in the 3.50%-3.75% range.
Crypto Today: Bitcoin, Ethereum, XRP post modest gains ahead of Fed rate decision

Crypto Today: Bitcoin, Ethereum, XRP post modest gains ahead of Fed rate decision

Cryptocurrency prices are broadly stable on Wednesday ahead of the Federal Reserve (Fed) interest rate decision. Bitcoin (BTC) holds above $64,000 but is struggling to sustain its rebound while Ethereum (ETH) sits above the short-term $1,900 support. Meanwhile, Ripple (XRP) is approaching the pivotal $1.10 resistance, a level that could shape the token’s upward trajectory if it is breached.
Bitcoin muted as markets fret over Fed, crypto bill

Bitcoin muted as markets fret over Fed, crypto bill

There are two main drivers for crypto this week, keeping Bitcoin trapped within its $58,000-$65,000 summer consolidation range. The cautious tone is being set by the Fed's policy decision scheduled later on Wednesday, a key catalyst for risk assets.
Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.