AAVEUSD Elliott Wave Analysis – TradingLounge Daily Chart

AAVE / U.S. Dollar (AAVEUSD) Daily Chart Analysis

AAVEUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next Higher Degrees: —

Wave Cancel Invalid Level: —

AAVEUSD Trading Strategy – Daily Timeframe

AAVE is currently trending lower, consistent with its Elliott Wave pattern. The price action indicates a wave IV retracement, setting up for a possible wave V downward continuation. This phase may present trade setups for those targeting a reversal or looking to maintain short positions. Wave III concluded at 160.51, and wave IV is now unfolding with expectations of a near-term reversal.

Fibonacci Retracement Levels:

• 23.6% at 196.35
• 38.2% at 222.78

Trading Strategies

Strategy: Short-Term Traders (Swing Trade)

• ✅ If AAVE approaches the upper Fibonacci resistance zone and reverses, it may mark the start of wave V, potentially pushing the price below 150, possibly towards 120.

Risk Management Tip:

• If AAVE/USD breaks above 289.00, this would invalidate the current Elliott Wave count, requiring a reassessment of the structure.

AAVEUSD Elliott Wave Analysis – TradingLounge H4 Chart

AAVE / U.S. Dollar (AAVEUSD) 4-hour Chart Analysis

AAVEUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave II

Direction Next Higher Degrees: —

Wave Cancel Invalid Level: —

AAVEUSD Trading Strategy – 4-Hour Timeframe

On the H4 chart, AAVE remains in a corrective move, identified as a wave IV pullback in the Elliott Wave structure. This retracement could precede a fresh decline in wave V. Wave III ended at 160.51, with the current wave IV presenting potential opportunities for reversal trades or further downside setups.

Fibonacci Retracement Levels:

• 23.6% at 196.35
• 38.2% at 222.78

Trading Strategies

Strategy: Short-Term Traders (Swing Trade)

• ✅ Watch for AAVE nearing the Fibonacci resistance and then turning downward. This move could lead to wave V extending to levels below 150, possibly targeting 120.

Risk Management Tip:

• A move above 289.00 would invalidate the existing wave count and prompt a reevaluation.

Technical Analyst: Kittiampon Somboonsod

Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here 

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