Polkadot DOT (DOT-USD) Price Chart Analysis

DOTUSD Elliott Wave Technical Analysis July 03 2023

4Hour

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

Daily

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