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Elliott Wave Analysis TradingLounge Daily Chart, 14 March 2023. 

AAVE Token/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: Wave (C) is likely to end at 64.689 and a five-wave rise. This level will help confirm

Wave Cancel invalid Level: 50.173

AAVE Token/U.S. Dollar (AAVEUSD) Trading Strategy: AAVE Token has recovered well from 64.689, a level sufficient to create a second wave reversal. And the five-up supports this idea. But even so, the price still remained below the MA200 line, making the overall picture still in a downtrend. This may cause the price to pull back in the short term before rising again.

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

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 14 March 2023. 

AAVE Token/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: Wave (C) is likely to end at 64.689 and a five-wave rise. This level will help confirm

Wave Cancel invalid Level: 50.173

AAVE Token/U.S. Dollar (AAVEUSD) Trading Strategy: AAVE Token has recovered well from 64.689, a level sufficient to create a second wave reversal. And the five-up supports this idea. But even so, the price still remained below the MA200 line, making the overall picture still in a downtrend. This may cause the price to pull back in the short term before rising again.

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

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