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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