Elliott Wave Technical Analysis: AAVE/US Dollar

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Elliott Wave Analysis TradingLounge Daily Chart, 16 December 2022,

AAVE/U.S.Dollar (AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: Wave III of Motive

Details: The rise of wave 3 usually has a length of 1.618 x wave1

Wave Cancel invalid Level:45.611

AAVE/U.S.Dollar (AAVEUSD) Trading Strategy: AAVE token price remains under selling pressure below MA200 MA50, indicating a strong downtrend. The wave oscillator is slow down with decreasing momentum, but if the price level is maintained. There is a tendency to reverse upward again. And we expect the price to trade above 115.82 overall, but we still need to trade cautiously as there is still some selling pressure.

AAVE/U.S.Dollar (AAVEUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The wave oscillator is slow down with decreasing momentum.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 16 December 2022,

AAVE/U.S.Dollar (AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: Wave III of Motive

Details: The rise of wave 3 usually has a length of 1.618 x wave1

Wave Cancel invalid Level:50.244

AAVE/U.S.Dollar (AAVEUSD) Trading Strategy: AAVE token price remains under selling pressure below MA200 MA50, indicating a strong downtrend. The wave oscillator is slow down with decreasing momentum, but if the price level is maintained. There is a tendency to reverse upward again. And we expect the price to trade above 85.57 overall, but we still need to trade cautiously as there is still some selling pressure.

AAVE/U.S.Dollar (AAVEUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The wave oscillator is slowed down with decreasing momentum.