Elliott Wave Technical Analysis: AAVE Token Crypto Price News For Wednesday, Nov 20

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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 III

Direction Next higher Degrees: Wave (III) of Impulse

Wave Cancel invalid Level: 125.280

Details: The five-wave likely goes up to test 492 Level

AAVE/ U.S. dollar(AAVEUSD)Trading Strategy:
The correction in wave 2 seems to be over so we focus on the five-wave rally of wave 3 and the price action remains in an uptrend. We are looking for a re-entry into the trend.

AAVE/ U.S. dollar(AAVEUSD)Technical Indicators:
The price is above the MA200 indicating an uptrend. The Wave Oscillator is a Bullish Momentum.

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Elliott Wave Analysis TradingLounge 4hr Chart

AAVE/ U.S. dollar(AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double corrective

Position: Wave (Y)

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

Wave Cancel invalid Level: 125.280

Details: The corrective of Wave ((2)) before increase again in Wave ((3)).

AAVE/ U.S. dollar(AAVEUSD)Trading Strategy:
The correction in wave 2 seems to be over so we focus on the five-wave rally of wave 3 and the price action remains in an uptrend. We are looking for a re-entry into the trend.

AAVE/ U.S. dollar(AAVEUSD)Technical Indicators:
The price is above the MA200 indicating an uptrend. The Wave Oscillator is a Bullish Momentum.

Crypto24.thumb.png.3e8d6cb498dbf7990b153d508a8e90ef.png

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com


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