Dogecoin DOGE (DOGE-USD) Price Chart Analysis

DOGEUSD Elliott Wave Technical Analysis June 04 2023

4Hour

Dogecoin/U.S.dollar(DOGEUSD)
DOGEUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Flat
Position: Wave (C)
Direction Next higher Degrees: Wave ((2)) of Motive
Details: Wave C of Expanded Flat  is usually equal to 1.618 multiplied Length of Wave A
Wave Cancel invalid Level:  0.1048

Dogecoin/U.S.dollar(DOGEUSD)Trading Strategy: The trend remains in bear market control. As the price structure in the downtrend has not yet ended in line with the price still below the MA200 line, the price is likely to continue falling. The increase could be just a short-term pullback.

Dogecoin/U.S.dollar(DOGEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are  bearish momentum

Daily

Dogecoin/U.S.dollar(DOGEUSD)
DOGEUSD  Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Double Combined
Position: Wave (Y)
Direction Next higher Degrees: Wave B or 2
Details: The reduction is still not over. The price is likely to trade below 0.0491.
Wave Cancel invalid Level:  

Dogecoin/U.S.dollar(DOGEUSD)Trading Strategy: The trend remains in bear market control. As the price structure in the downtrend has not yet ended in line with the price still below the MA200 line, the price is likely to continue falling. The increase could be just a short-term pullback.

Dogecoin/U.S.dollar(DOGEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are  bearish momentum