Elliott Wave analysis TradingLounge Daily chart,
DOGE/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Double Corrective.
Position: Wave Y.
Direction next higher degrees: Wave (II) of Impulse.
Details: Wave (II) may not be complete, price is likely to be below 0.076.
Dogecoin/ U.S. dollar (DOGEUSD) Trading Strategy: This is a 5 wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.076 level, so the overall picture is a short term retracement before another rally.
Dogecoin/ U.S. dollar (DOGEUSD) Technical Indicators: The price is below the MA200 indicating a Downtrend, The Wave Oscillator is a Bearish Momentum.
DOGE/USD Elliott Wave technical analysis
Function: Counter trend.
Mode: Corrective.
Structure: Double Corrective.
Position: Wave Y.
Direction Next higher Degrees: Wave (II) of Impulse.
Details: Wave (II) may not be complete, price is likely to be below 0.076.
Dogecoin/ U.S. dollar (DOGEUSD) Trading Strategy: This is a 5 wave retracement of wave (C), where we are in the final stages of wave Y, which is likely to test the 0.076 level, so the overall picture is a short term retracement before another rally.
Dogecoin/ U.S. dollar (DOGEUSD) Technical Indicators: The price is below the MA200 indicating Downtrend, The Wave Oscillator is a Bearish Momentum.
Dogecoin Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended Content
Editors’ Picks
Ethereum Price Forecast: ETH could test $2,395 support amid Vitalik Buterin's Nobel Prize calls
Ethereum is trading at $2,413 on Wednesday as it looks to test the support level near $2,395. The current bearish price outlook could change drastically if Vitalik Buterin surprisingly emerges as an economics Nobel Prize winner on October 14.
US government charges notable crypto companies, individuals for market manipulation and fraud
The US government took legal action against three crypto firms and 15 individuals on Wednesday for market manipulation and fraud, including artificially inflating cryptocurrency prices to make profits.
Bitcoin to reach $80,000: Bitwise, US government give green light for Bitfinex to recover hacked funds
Bitcoin could reach $80,000 by year-end if the market sees no surprises and the upcoming elections do not affect investor sentiment, according to Bitwise Chief Investment Officer Matt Hougan. Meanwhile, the US government considers Bitfinex the sole victim and potential recipient of 119,754 BTC seized from hackers.
Crypto Today: Bitcoin, Ethereum, XRP stay put as market faces potential supply overhang from Bitfinex and US
Bitcoin price stayed above $62,000 but could face supply overhang from potential transfers of Silk Road and Bitfinex funds. Ethereum and XRP continued consolidating near key price levels. Popular trader Peter Brandt predicts $135,000 Bitcoin price between August/September 2025.
Bitcoin: Is BTC sell-off over?
Bitcoin price declined over 6% this week until Friday as the escalation of the conflict between Iran and Israel added fuel to this sell-off. The decline was also supported by falling institutional demand for ETFs. BTC bulls seem to be holding strong at a critical support level.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.