AAVEUSD Elliott Wave Technical Analysis 08 December 2022
4 Hour
AAVE / U.S.Dollar (AAVEUSD)
AAVEUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Flat
Position: Wave C
Direction Next higher Degrees: Wave 2 of Motive
Details: the decline of wave 2 is Likely to reverse .618 of wave 1.
Wave Cancel invalid Level: 50.244
AAVE / U.S.Dollar (AAVEUSD) Trading Strategy: AAVE token price remains under heavy selling pressure below MA200 MA50, indicating a strong downtrend. The wave oscillator is below the zero line with decreasing momentum, but the price level is maintained. There is a tendency to reverse upward again. And we expect the price to trade above 115.82 overall, we still need to trade cautiously as there is still some selling pressure.
AAVE / U.S.Dollar (AAVEUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator is below the Zero-Line is a bearish momentum
Daily
AAVE / U.S.Dollar (AAVEUSD)
AAVEUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Zigzag
Position: Wave ((C))
Direction Next higher Degrees: Wave II of Motive
Details: Wave II is likely to end and the price has a chance to trade above 98.56.
Wave Cancel invalid Level: 45.611
AAVE / U.S.Dollar (AAVEUSD) Trading Strategy: AAVE token price remains under heavy selling pressure below MA200 MA50, indicating a strong downtrend. The wave oscillator is below the zero line with decreasing momentum, but the price level is maintained. There is a tendency to reverse upward again. And we expect the price to trade above 115.82 overall, we still need to trade cautiously as there is still some selling pressure.
AAVE / U.S.Dollar (AAVEUSD) Technical Indicators: The price is below the MA200 MA50, indicating a clear downtrend. The Wave oscillator is below the Zero-Line is a bearish momentum
