Elliott Wave Technical Analysis: AAVE/US Dollar - Tuesday, Jan. 10

By Peter Mathers of Trading Lounge

Elliott Wave Analyst - tradinglounge • Jan 10, 2023 at 8:30 AM EST

AAVE Token is likely to recover well as the price managed to break through the MA50, but even so, the price is still below the MA200.

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Elliott Wave Analysis TradingLounge Daily Chart, 10 January 23

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 3 of Motive

Details: Wave(3) is always 1.618 x Wave(1) length.

Wave Cancel invalid Level: 51.089

AAVE / US Dollar (AAVEUSD) Trading Strategy: AAVE Token is likely to recover well as the price managed to break through the MA50, but even so, the price is still below the MA200. The price may be at the beginning of the rally. Causing there is still a chance to be pressured by sales pressure Trading during this period must be done carefully.

AAVE / US Dollar (AAVEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend. the Wave Oscillator above Zero-Line momentum is Bullish.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 10 January 2023,

AAVE / US Dollar (AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: Wave 3 of Motive

Details: Wave(3) is always 1.618 x Wave(1) length.

Wave Cancel invalid Level: 51.089

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