AAVE/USD Elliott Wave Technical Analysis, Monday Feb. 6

Peter Mathers • by Kittiampon Somboonsod

Elliott Wave Analyst - tradinglounge • Feb 6, 2023 at 12:00 AM EST

AAVE is the native currency of the Aave DeFi platform. We see an uptrend forming.

AAVE /U.S.dollar Trading Strategy: AAVE token has recovered well from the 50.40 level and managed to cross the MA200 line, indicating that an uptrend is forming. The Elliott Wave structure is in a correction of wave (2) as a short-term decline before the price rises again.

AAVEUSD Elliott Wave Technical Analysis

Function: Counter trend
Mode: Motive
Structure: Impulse
Position: Wave ((2))
Direction Next higher Degrees: Wave III of Motive
Wave Cancel invalid Level: 50.173

AAVE/USD Technical Indicators: The price is above the MA200 indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish

Trading Strategy: AAVE token has recovered well from the 50.40 level and managed to cross the MA200 line, indicating that an uptrend is forming. The Elliottwave structure is in a correction of wave (2) as a short-term decline before the price rises. again

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