AAVE Elliott Wave technical analysis [Video]
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AAVE/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave III.
Direction next higher degrees:
Wave cancel invalid level:
AAVE/USD – Trading strategy
AAVE continues to move downward, aligned with the Elliott Wave structure. The asset is currently in a wave IV retracement, likely preceding a potential wave V decline. This point could offer opportunity for traders looking for reversal entries or continued short positions. Wave III completed at 160.51; now retracing in wave IV, expected to reverse soon.
Fibonacci retracement targets:
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23.6% at 196.35.
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38.2% at 222.78.
Trading strategies
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Strategy
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Short-term traders (swing trade)
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If the price hits the upper Fibonacci zone and then starts declining, it signals a potential entry for wave V, which may fall below 150 or near 120.
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Risk management
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If price surpasses 289.00, the current Elliott Wave count becomes invalid and should be reassessed.
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AAVE/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave II.
Direction next higher degrees:
Wave cancel invalid level:
AAVE/USD – Trading strategy
AAVE remains in a downward move based on the Elliott Wave count, now entering a wave IV retracement ahead of a possible wave V drop. This retracement could be significant for bottom seekers or those eyeing another short setup. Wave III finalized at 160.51, followed by a retracement phase likely to reverse.
Fibonacci retracement targets:
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23.6% at 196.35
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38.2% at 222.78
Trading strategies
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Strategy
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Short-term traders (swing trade)
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When price nears the Fibonacci ceiling and turns downward, it could lead to wave V testing sub-150 or near 120.
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Risk management
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A breakout above 289.00 invalidates the current wave structure and requires re-evaluation.
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AAVE Elliott Wave technical analysis [Video]
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