Elliott Wave Analysis TradingLounge Daily Chart, 24 October 2022: AAVE Token(AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave (1)

Direction Next higher Degrees: Wave ((1)) of Motive

Details: The rise of wave (1) in the sub-wave of wave ((3)), when it is completed, the price will fall again in wave (2), but must not descend below 64.79.

Wave Cancel invalid Level: 74.80

AAVE Token(AAVEUSD)Trading Strategy: The rise of wave (1) in the sub-wave of wave ((1)) tends to test the major resistance at the MA200 line if it fails to pass. There is another downtrend in wave (2) but must not descend below 64.79. This could be an opportunity to join another trend once wave 2 completes.

AAVE Token (AAVEUSD) Technical Indicators: MACD Histogram and MACD above zero line Bullish momentum.

Tradinglounge analyst : Kittiampon Somboonsod

Source Tradinglounge.com

AAVE Token(AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

AAVEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 5

Direction Next higher Degrees: Wave (1) of Motive

Details: The rise of wave 5 has a target price of .618 x Wave1 past wave 3. at 94.456

Wave Cancel invalid Level: 64.93.

AAVE Token(AAVEUSD)Trading Strategy: The rise of wave 5 has a price target of .618 x

wave 1 to wave 3 at 94.456. When wave 5 ends, the price has another downtrend (2), but

not below 64.79. This could be an opportunity to join the trend. another when wave 2 is

finished.

AAVE Token(AAVEUSD)Technical Indicators: MACD Histogram and MACD Slow the

ascent by not making a new high. The price has a chance of reversal.

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