ð Aave's Weekly Analysis: Potential Breakout from Prolonged Con
ðAave's price action in the weekly timeframe indicates the possibility of breaking out of its 658-day consolidation phase, potentially initiating an upward trend.
â After breaking its trend line, the price has surged by 100%. Although it faced rejection from the 110-120 supply zone initially, a second attempt with significant volume and bullish candlestick patterns suggests a breakthrough.
âïļThe recent candlestick closure above this zone also validates the bullish sentiment, supported by Dow Theory principles.
ðĨFurthermore, the RSI oscillator entering the overbought zone indicates potential upward momentum, while the SMA25 indicator, alongside the price action, has bounced back after rejection from the supply zone.
ðFor investors considering adding Aave to their portfolio, setting a stop-loss at a minimum of $82 or a more conservative approach at $52 is recommended. As for targets, holding until the all-time high (ATH) could be a strategic option.
ð§ ðžThis is not financial advice, and it is only my personal opinion on this cryptocurrency. Please do your own research before making any investment decisions.
â After breaking its trend line, the price has surged by 100%. Although it faced rejection from the 110-120 supply zone initially, a second attempt with significant volume and bullish candlestick patterns suggests a breakthrough.
âïļThe recent candlestick closure above this zone also validates the bullish sentiment, supported by Dow Theory principles.
ðĨFurthermore, the RSI oscillator entering the overbought zone indicates potential upward momentum, while the SMA25 indicator, alongside the price action, has bounced back after rejection from the supply zone.
ðFor investors considering adding Aave to their portfolio, setting a stop-loss at a minimum of $82 or a more conservative approach at $52 is recommended. As for targets, holding until the all-time high (ATH) could be a strategic option.
ð§ ðžThis is not financial advice, and it is only my personal opinion on this cryptocurrency. Please do your own research before making any investment decisions.