AAVE crypto price news today Elliott Wave technical analysis [Video]
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Elliott Wave Analysis - TradingLounge Daily Chart.
AAVE/USD (AAVEUSD) Elliott Wave technical analysis
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Function: Follow Trend.
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Mode: Motive.
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Structure: Impulse.
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Position: Wave V.
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Next higher degree direction: Uptrend.
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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):
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If the price stays above 192 USD, traders can consider entering a Long (Buy) position in anticipation of Wave V's rise.
Risk management:
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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]
Author
Peter Mathers
TradingLounge
Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.
