AAVE Elliott Wave technical analysis [Video]
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AAVE/USD Elliott Wave technical analysis
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Function: Trend Following.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave III.
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Next higher degree direction: Downtrend Continuation.
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Wave cancelation level: Not Specified.
Analysis details
AAVE is undergoing a downward correction after reaching a high of $399. The current wave structure suggests a progressive downward movement following the pattern (1)-(2)-(3)-(4)-(5).
AAVE/USD trading strategy
AAVEUSD remains in a well-defined downtrend. The current wave IV represents a short-term recovery before transitioning into the final downward wave V. If the price does not break out, it is likely to test levels below $140.
- Invalidation level: If the price breaks $280, the wave structure needs reassessment.
Trading strategies
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For short-term traders (swing trade):
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Sell when the price approaches the $180 – $200 range and shows signs of reversal.
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Risk management
- If the price breaks above $280, the structure is incorrect and requires reevaluation.
AAVE/USD Elliott Wave technical analysis
-
Function: Trend Following.
-
Mode: Motive.
-
Structure: Impulse.
-
Position: Wave III.
-
Next higher degree direction: Downtrend Continuation.
-
Wave cancelation level: Not Specified.
Analysis details
AAVE continues its downward correction after reaching a high of $399. The wave structure confirms the development of a downward five-wave sequence (1)-(2)-(3)-(4)-(5).
AAVE/USD trading strategy
AAVEUSD is still in a clear downtrend, with wave IV acting as a temporary upward correction before the final wave V decline. If the price remains below key resistance levels, it is likely to test support below $140.
- Invalidation level: If the price surpasses $280, the structure must be reassessed.
Trading strategies
-
For short-term traders (swing trade):
-
Look to sell when the price nears the $180 – $200 range and then reverses.
-
Risk management
- Any movement above $280 suggests the need for structural reevaluation.
AAVE Elliott Wave technical analysis [Video]
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