Market & Ticker: AAVE - AAVE/USDT
Date: 03/08/2023
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
AAVE didn’t break 88,00 resistances in July (first target) after having being impacted by the CRV negative price action. AAVE is retracing its first bullish impulsion towards 58,00 before expecting a new tentative.
We adjust the key levels to watch, as long as 54,00 remains a tactical support valid in daily a new upside swing is expected towards 77,00 key resistances adjusted to break above to open 105,00 Resistance area.
Technical Key Elements:
- AAVE keeps potential to test the upper part of the blue range at 105/122
- RSI indicator is close to pullback trend line
- The Moving average are acting as resistance on the near-term calling for a test of 58,00
- Fibonacci key support is adjusted at 54,00 while the Elliot wave shows upside potential towards 105 and 122
Trade Idea conclusion: Buy - Conviction:
 | | Medium |
Target 2: 105
Target 1: 77
Buy: add in dip area 58
Stop: 54
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
