Polkadot DOT (DOT-USD) Price Chart Analysis

DOTUSD Elliott Wave Technical Analysis July 29 2023

4Hour

Polkadot/U.S. dollar(DOTUSD)
DOTUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Flat
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Motive
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))
Wave Cancel invalid level: 4.26

Polkadot/U.S. dollar(DOTUSD)Trading Strategy: Polkadot recovered well from the level of 4.27100 and it looks like wave ((2)) is likely to end at the level of 5.1112. MA200 line, so the price may rise slightly. before considering trading

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

Daily

Polkadot/U.S. dollar(DOTUSD)
DOTUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Flat
Position: Wave (C)
Direction Next higher Degrees: wave ((2)) of Motive
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1))
Wave Cancel invalid level: 4.26

Polkadot/U.S. dollar(DOTUSD)Trading Strategy: Polkadot recovered well from the level of 4.27100 and it looks like wave ((2)) is likely to end at the level of 5.1112. MA200 line, so the price may rise slightly. before considering trading

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