AAVE/USD crypto price news today Elliott Wave technical analysis [Video]
|AAVE/USD Elliott Wave technical analysis
-
Function: Counter Trend.
-
Mode: Corrective.
-
Structure: Not Applicable.
-
Position: Wave 2.
-
Invalidation level: $116.
Analysis summary:
Following the end of its Wave V downtrend near the $50–$60 zone in April, AAVE/USD began a strong recovery, forming a complete impulsive move up to Wave I, which peaked at $331.12. Currently, the price action is showing weakness, which aligns with the onset of Wave II, typically seen as a pause and correction phase before a longer-term Wave III uptrend emerges.
AAVE/USD trading strategy
-
Short-term swing trade strategy:
Look for a reversal pattern in the $195–$172 range as a potential entry zone for positioning with Wave III. -
Risk management:
The bullish outlook holds as long as the price stays above the invalidation level at $116.
AAVE/USD Elliott Wave technical analysis
-
Function: Counter Trend.
-
Mode: Corrective.
-
Structure: Not Applicable.
-
Position: Wave 2.
-
Invalidation level: $116.
Analysis summary:
AAVE completed its V-wave decline around the $50–$60 zone, then initiated a clear uptrend to complete Wave I at $331.12. The current downward movement could be the start of Wave II, commonly a pullback before the beginning of a stronger Wave III bullish phase.
AAVE/USD trading strategy
-
Swing trade entry plan:
Watch for reversal confirmation signals between $195–$172 for a potential long position targeting the next major move. -
Risk management:
The current wave count remains valid unless $116 support is breached.
AAVE/USD Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.