AAVE Crypto Price News Today – Technical Analysis Update, Price Now! Elliott Wave Price Prediction!
Something is occurring here on the chart that I find interesting so, for the larger context. Take a look at my previous RV video, but in in just quick words. I expect that we are here in this that this is a wave one yeah um, and that we are coming down next in a wave two either into this support area or the deeper support area. The deeper support area is focused on the higher level wave count and would assume that this Wave 2 here was never finished. But in fact it will be finished here in the region between 72 and 82 dollars, yeah um, but this gets only valid if we drop below 80 um 83 40. yeah, but that doesnt really so much matter for this video in this video. I want to make you aware that this move up could be finished, that this rally could be over for now for now, because this chart is extremely bullish, but we can count in this wave up five waves. This fifth wave could be a leading sorry, an ending diagonal pattern. They often happens well, they do generally happen in fifth waves um. This is possible and in the fifth wave structure here, we can count five waves as complete as well wave one wave, two wave three wave four and wave five yeah, so wait: five waves in wave five, if youre thinking, why do waves uh one and four overlap? Thats normal in ending diagonal, you get that its, not a problem um, but the main reason I show you that is first of all, this, the wave structure would suggest we are nearly done here and traditional ta would as well by looking at this structure, just as An ascending wedge, of course, its not guaranteed that they will break down from here, but an ascending which would regularly break to the downside more often than not.
It is a pattern of you know that shows exhaustion and the wave count suggests we are pretty much done here in this rally yeah before we see a retracement that would be a bullish, retracement, just a correction in a larger impulse. I do expect a strong recovery and higher highs afterwards um, but also were just below the 100 level yeah, which is up here I mean. Maybe there will be a push to 100. I cant rule that out either we move up slowly within the wedge into the Apex here, all the way up to 100 or um. We see a huge fake out to the upside. That could happen as well, but the 100 level is just a very, very, very, very um, well crazy, um resistance level yeah. Now I also need to give you the other idea. What happens actually if we break out to the upside and do a retest that is successful and go higher? Well, I think if that happens, which would be rather unlikely um, then we can see quite a fast really, I think, into the region. Around 100. 10 hundred fifteen dollars, because before that there isnt much resistance here, yeah there isnt much left, you know um black hole, Yeah and even here there wasnt, really any structural resistance and support levels that are worth pointing out. So just really want to make you aware of that and yeah. Just quick update hope you, like the update, if you did please hit the like button, leave a comment and subscribe and if you really like the content, please check out the channel membership thanks a lot for watching bye Music.