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Elliott Wave Analysis TradingLounge Daily Chart, 10 February 2023.

AAVE / U.S. Dollar (AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave (C)

Direction Next higher Degrees: Wave ((2)) of Motive

Details: The retracement of wave 2 is usually .618 x the length of wave 1.

Wave Cancel invalid Level: 50.173

AAVE / U.S. Dollar (AAVEUSD) Trading Strategy: The AAVE token recovered well from the 50.40 level, but the price fell below the MA200 line, indicating that a downtrend is forming. Elliottwave structure is in a correction of wave (2), a short-term decline before the price. high up again Wait for wave 2 to finish to join the trend again.

AAVE / U.S. Dollar (AAVEUSD) Technical Indicators: The price is above the MA200 indicating a Down Trend. The wave oscillators above Zero-Line momentum are bullish.

Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, 10 February 2023. 

AAVE / U.S. Dollar (AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Diagonal

Position: Wave (5)

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

Details: The fifth wave is the last wave in the sequence "5". Watch out for the pullback

Wave Cancel invalid level: 4.23

AAVE/ U.S. Dollar (AAVEUSD) Trading Strategy: The AAVE token recovered well from the 50.40 level, but the price fell below the MA200 line, indicating that a downtrend is forming. Elliottwave structure is in a correction of wave (2), a short-term decline before the price. high up againWait for wave 2 to finish to join the trend again.

AAVE / U.S. Dollar (AAVEUSD) Technical Indicators: The price is above the MA200 indicating a Down Trend. The wave oscillators above Zero-Line momentum are bearish.

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