AAVE/USD crypto price news today Elliott Wave technical analysis [Video]
AAVE/USD Elliott Wave technical analysis
Analysis summary:
Following the end of its Wave V downtrend near the $50–$60 zone in April, AAVE/USD began a strong recovery, forming a complete impulsive move up to Wave I, which peaked at $331.12. Currently, the price action is showing weakness, which aligns with the onset of Wave II, typically seen as a pause and correction phase before a longer-term Wave III uptrend emerges.
AAVE/USD trading strategy
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Short-term swing trade strategy:
Look for a reversal pattern in the $195–$172 range as a potential entry zone for positioning with Wave III. -
Risk management:
The bullish outlook holds as long as the price stays above the invalidation level at $116.
