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Polkadot/U.S.dollar(DOTUSD) Elliott Wave Technical Analysis 3 July 23


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Elliott Wave Analysis TradingLounge Daily Chart, 3 July 23,  

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 I of Motive

Details: Wave 3 is equal to 1.618 x Wave 1 at 6.34

Wave Cancel invalid level: 4.26

Polkadot/U.S.dollar(DOTUSD)Trading Strategy: Polkadot recovered well from the 4.266 level and was able to form a strong five-wave structure, giving Chainlink the opportunity to form a new uptrend. But even so, the price is still below the MA200 line, giving the price a chance to face selling pressure. So watch out for resistance at the MA200 line.

Polkadot/U.S.dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillator are bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

DOTDay.thumb.png.24f0efa19258a8bd5f76bacc1c3c983f.png

 

Elliott Wave Analysis TradingLounge 4H Chart, 3 July 23,  

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 I of Motive

Details: Wave 3 is equal to 1.618 x Wave 1 at 6.34

Wave Cancel invalid level: 4.26

Polkadot/U.S.dollar(DOTUSD)Trading Strategy: Polkadot recovered well from the 4.266 level and was able to form a strong five-wave structure, giving Chainlink the opportunity to form a new uptrend. And the price tends to continue to rise. from movement in waves ((3)).

Polkadot/U.S.dollar(DOTUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillator are bullish momentum.

DOTH4.thumb.png.47e3c9feacc81b662a5fd190bb53b999.png

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    • Hi KoketsoIG, Thank you for the clarification on that. Cheers
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