AAVE/USD (AAVEUSD) Elliott Wave Technical Analysis – Daily Chart
AAVE/USD Elliott Wave Analysis
Market Function: Follow Trend
Wave Mode: Motive
Wave Structure: Impulse
Current Position: Wave V
Next Higher Degree Direction: Uptrend
Invalidation Level: Below $179
Analysis Summary:
The price structure of AAVE/USD suggests that Wave V is starting to unfold. As long as the price stays above $192, the uptrend is likely to continue toward the target of $458. However, a drop below $179 may indicate a deeper correction.
AAVE/USD Trading Strategy – Daily Chart
Buy Strategy (Long Position):
- If the price remains above $192, traders can consider entering a long (buy) position in anticipation of further upside movement in Wave V.
Risk Management:
- If the price falls below $192, setting a Stop Loss is advisable to manage downside risks.
- A drop below $179 may indicate the beginning of a larger corrective wave, signaling caution for long positions.
AAVE/USD (AAVEUSD) Elliott Wave Technical Analysis – H4 Chart
Market Function: Follow Trend
Wave Mode: Motive
Wave Structure: Impulse
Current Position: Wave V
Next Higher Degree Direction: Uptrend
Invalidation Level: Below $179
Analysis Summary:
The H4 chart confirms that Wave V is beginning. If AAVE/USD holds above $192, the bullish momentum is expected to continue, with a potential target of $458. However, a decline below $179 could signal a larger corrective move.
AAVE/USD Trading Strategy – H4 Chart
Buy Strategy (Long Position):
- A break and hold above $192 could provide a buying opportunity, anticipating a continuation of the uptrend.
Risk Management:
- If the price drops below $192, implementing a Stop Loss is recommended to limit potential losses.
- A confirmed break below $179 could indicate an extended correction, requiring a reassessment of long positions.
Technical Analyst: Kittiampon Somboonsod
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