AAVEUSD Elliott Wave Analysis: TradingLounge Day Chart

AAVE/USD (AAVEUSD) – Day Chart Analysis

AAVEUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next Higher Degree: Wave (III) of Impulse

Wave Cancel Invalid Level: 125.280

Details: The five-wave structure is likely heading towards testing the 492 level.

AAVE/USD (AAVEUSD) Trading Strategy

• The wave 2 correction appears to be complete, allowing the focus to shift toward the five-wave rally in wave 3.

• Price action remains in an uptrend, and traders may consider re-entering the market to align with the bullish momentum.

AAVE/USD (AAVEUSD) Technical Indicators

• The price is currently above the 200-day moving average (MA200), confirming an uptrend.

• The Wave Oscillator signals strong bullish momentum.

AAVEUSD Elliott Wave Analysis: TradingLounge 4-Hour Chart

AAVE/USD (AAVEUSD) – 4-Hour Chart Analysis

AAVEUSD Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Direction Next Higher Degree: Wave (III) of Impulse

Wave Cancel Invalid Level: 125.280

Details: The five-wave structure is expected to test the 492 level.

AAVE/USD Trading Strategy

• The wave 2 correction seems complete, paving the way for a five-wave rally in wave 3.

• The price action suggests continued uptrend momentum, making a case for re-entry into the trend.

AAVE/USD Technical Indicators

• Price sustains above the MA200, reinforcing the uptrend.

• The Wave Oscillator exhibits a bullish momentum signal, supporting further upward movement.

Technical Analyst: Malik Awais

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

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