Aave AAVE (AAVE-USD) Price Chart Analysis

AAVEUSD Elliott Wave Technical Analysis June 02 2023

4Hour

AAVE Token/U.S.dollar(AAVEUSD)
AAVEUSD Elliott Wave Technical Analysis
Function: Follow Trend
Mode: Motive
Structure: Impulse
Position: Wave 3
Direction Next higher Degrees: Wave (1) of Motive
Details: Wave 3 is usually equal to 1.618 multiplied Length of wave 1
Wave Cancel invalid Level: 60.171

AAVE Token/U.S.dollar(AAVEUSD)Trading Strategy: Wave ((2)) may end at the level of 60.171, five rising waves will support this idea. but even so Price Remains in Bear Market Control As it is below the MA200 line, there is still a risk of entering a long position.

AAVE Token/U.S.dollar(AAVEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are  Bearish momentum

Daily

AAVE Token/U.S.dollar(AAVEUSD)
AAVEUSD Elliott Wave Technical Analysis
Function: Reactionary(Counter Trend)
Mode: Corrective
Structure: Double Combined
Position: Wave (Y)
Direction Next higher Degrees: Wave ((2)) of Motive
Details: Wave ((2)) may have ended at the level of 60.171. Five waves of rise and break of the level of 74.219 will support this idea.
Wave Cancel invalid Level: 60.171

AAVE Token/U.S.dollar(AAVEUSD)Trading Strategy: Wave ((2)) may end at the level of 60.171, five rising waves will support this idea. but even so Price Remains in Bear Market Control As it is below the MA200 line, there is still a risk of entering a long position.

AAVE Token/U.S.dollar(AAVEUSD)Technical Indicators: The price is below the MA200 indicating a downtrend MACD and RSI are  Bearish momentum