AAVE crypto price news today Elliott Wave technical analysis [Video]

Elliott Wave Analysis - TradingLounge Daily Chart.

AAVE/USD (AAVEUSD) Elliott Wave technical analysis

• Function: Follow Trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave V.

• Next higher degree direction: Uptrend.

• Invalidation level: If the price falls below 179 USD.

Analysis details:

The AAVE/USD price structure indicates that Wave V is beginning. If the price remains above 192 USD, the uptrend is expected to continue toward the target of 458 USD. However, if the price drops below 179 USD, there could be a deeper correction.

AAVE/USD trading strategy

The structure suggests that Wave V is about to begin. As long as the price holds above 192 USD, the market is expected to trend upward, reaching 458 USD. A break below 179 USD could signal a potential correction.

Trading strategies:

Buy Strategy (Long Position):

• If the price stays above 192 USD, traders can consider entering a Long (Buy) position in anticipation of Wave V's rise.

Risk management:

• If the price drops below 192 USD, it is advisable to set a Stop Loss to minimize risk.

Elliott Wave Analysis - TradingLounge H4 Chart.

AAVE/USD (AAVEUSD) Elliott Wave technical analysis

• Function: Follow Trend.

• Mode: Motive.

• Structure: Impulse.

• Position: Wave V.

• Next higher degree direction: Uptrend.

• Invalidation level: If the price falls below 179 USD.

Analysis details:

The AAVE/USD price pattern suggests that Wave V is about to commence. If the price remains above 192 USD, the market is expected to continue its uptrend toward 458 USD. A decline below 179 USD could indicate a more significant correction.

AAVE/USD trading strategy

The AAVEUSD market structure shows that Wave V is initiating. If the price holds above 192 USD, the uptrend is likely to continue. However, a break below 179 USD may lead to a deeper pullback.

Trading strategies:

Buy Strategy (Long Position):

• If the price remains above 192 USD, traders can consider buying in anticipation of a continued uptrend.

Risk management:

• If the price drops below 192 USD, applying a Stop Loss is recommended to mitigate risks.

TradingLounge analyst: Kittiampon Somboonsod, CEWA.

AAVE/USD (AAVEUSD) Elliott Wave technical analysis [Video]