Elliott Wave Analysis TradingLounge Daily Chart, December 8

AAVE / U.S.Dollar (AAVE-X)

AAVEUSD Elliott Wave Technical Analysis

Function: Counter  trend

Mode: Corrective

Structure: Zigzag

Position: Wave ((C))

Direction Next higher Degrees: Wave II of Motive

Details: Wave II is likely to end and the price has a chance to trade above 98.56.

Wave Cancel invalid Level: 45.611

AAVE / U.S. Dollar (AAVEUSD) Trading Strategy: AAVE token price remains under heavy selling pressure below MA200 MA50, indicating a strong downtrend. The wave oscillator is below the zero line with decreasing momentum, but the price level is maintained. There is a tendency to reverse upward again. And we expect the price to trade above 115.82 overall, we still need to trade cautiously as there is still some selling pressure.

AAVE / U.S.Dollar (AAVEUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator is below the Zero-Line is a bearish momentum

TradingLounge Analyst: Kittiampon Somboonsod

Elliott Wave Analysis TradingLounge 4H Chart, December 8, 2022

AAVE / U.S. Dollar (AAVEUSD)

AAVEUSD Elliott Wave Technical Analysis

Function: Counter  trend

Mode: Corrective

Structure: Flat

Position: Wave C

Direction Next higher Degrees: Wave 2 of Motive

Details: the decline of wave 2 is Likely to reverse .618 of wave 1.

Wave Cancel invalid Level: 50.244

AAVE / U.S. Dollar (AAVEUSD) Trading Strategy: AAVE token price remains under heavy selling pressure below MA200 MA50, indicating a strong downtrend. The wave oscillator is below the zero line with decreasing momentum, but the price level is maintained. There is a tendency to reverse upward again. And we expect the price to trade above 115.82 overall, we still need to trade cautiously as there is still some selling pressure.

AAVE / U.S. Dollar (AAVEUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator is below the Zero-Line is a bearish momentum.

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