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 V.
AAVE/USD trading strategy
AAVE is at a significant technical stage after completing a full 5-wave impulsive decline as described by Elliott Wave theory. The price reached a bottom near the $114 mark and has begun to recover. If the asset remains above the descending trendline and pushes past the resistance between $168 and $180 with consistency, this may suggest a major bullish trend is starting.
Trading strategies:
Strategy
For swing traders (short-term): Await confirmation of a breakout from the trendline.
Risk management
- Set a stop loss under $121.96.
AAVE/USD – Elliott Wave technical analysis
Function: Follow trend.
Mode: Motive.
Structure: Impulse.
Position: Wave V.
AAVE/USD trading strategy
AAVE has hit a technical turning point after completing a five-wave decline as per Elliott Wave principles. The price has touched a low around $114 and is starting to bounce. Holding above the falling channel and crossing over the $168–$180 level might mark the beginning of a long-term upward trend.
Trading strategies:
Strategy
- For swing traders (short-term): Look for breakout confirmation above trendline.
Risk management:
- Stop loss suggested below $121.96.
AAVE/USD – 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.
