Doge Coin Elliott Wave Analysis

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 Doge Coin daily chart


As shown in the above daily Doge Coin, a crypto which has shown signs of wave theory applying, I have tried to be fair and just in applying over it. It is very clear that prices are moving in a higher highs and higher lows. Also to discontinue this pattern, it is imperative for prices to break its previous low, which in this case it is least likely. Daily RSI which was in highly overbought terrain has relieved from it.

The Crypto has a support placed at $0.2580 which I think should hold and show signs of reversal, the other way to look at it is wait for the bullish break in falling channel $0.4100 will be a buying opportunity.

From waves perspective, prices are moving in an impulse fashion in which it has completed wave i and wave ii and now it has started moving in wave iii which is extended and I think it will complete wave (ii) of wave iii and start wave (iii) of wave iii soon which can soar it till $1.20.

The summation is Doge Coin has crucial support at $0.2580, if protected expect the price to surge till $1.20 over medium term.

 

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