Tracking AAVE & ETH - Market Analysis for Oct 29th, 2022

Ryan Wilday and Jason Appel have been tracking an important setup in Aave (AAVE) as well as in Ethereum (ETH) in their Cryptocurrency Trading service at EWT.

These setups started when cryptos rallied strongly off their June lows in the first wave (A alternate), then set up in a wave 2/B into mid-October. They have now started their move out of the mid-October lows.  AAVE jumped ahead, rallying 17% during the week of October 17.  It began to consolidate this week, while Ethereum caught up, tacking on 14% since last Sunday October 23.

As Jason posted to members about ETH on October 20:  "Unlike BTC, the bounce from last night's low has proportions more characteristic of 5 waves up, and as such, more strongly favors a low in place."

And as he wrote about AAVE on October 17: "Should price followthrough as expected and fill out this initial 5 up, that would bode well for another larger (i)-(ii) setup for wave c of 1 up to $160+."

As Ryan explains, "Provided they continue to follow through, these big weeks portend large gains in the coming weeks and months."