Market & Ticker: AAVE - AAVE/USDT
Horizon / Timing: Tactical Mid-term / 1 to 3 months
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:
Target 2: 105
Target 1: 77
Buy: add in dip area 58
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)