Elliott Wave Technical Analysis: AAVE Crypto Price News For Friday, April 18
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Elliott Wave Analysis – TradingLounge Daily Chart
AAVE / U.S. Dollar (AAVEUSD)
AAVEUSD – Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave V
Direction Next Higher Degrees:
Wave Cancel Invalid Level:
AAVE / U.S. Dollar (AAVEUSD) – Trading Strategy:
AAVE is at a significant technical stage after completing a full 5-wave impulsive decline as described by Elliott Wave theory. The price reached a bottom near the $114 mark and has begun to recover. If the asset remains above the descending trendline and pushes past the resistance between $168 and $180 with consistency, this may suggest a major bullish trend is starting.
Trading Strategies:
Strategy
✅ For swing traders (short-term):
• Await confirmation of a breakout from the trendline.
Risk Management:
• Set a Stop Loss under $121.96.
Elliott Wave Analysis – TradingLounge H4 Chart
AAVE / U.S. Dollar (AAVEUSD)
AAVEUSD – Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave V
Direction Next Higher Degrees:
Wave Cancel Invalid Level:
AAVE / U.S. Dollar (AAVEUSD) – Trading Strategy:
AAVE has hit a technical turning point after completing a five-wave decline as per Elliott Wave principles. The price has touched a low around $114 and is starting to bounce. Holding above the falling channel and crossing over the $168–$180 level might mark the beginning of a long-term upward trend.
Trading Strategies:
Strategy
✅ For swing traders (short-term):
• Look for breakout confirmation above trendline.
Risk Management:
• Stop Loss suggested below $121.96.
TradingLounge Analyst: Kittiampon Somboonsod, CEWA
Source: TradingLounge.com
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