Market & Ticker: AAVE - AAVE/USDT
Date: 16/02/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
AAVE bounced off support area at 75/85 and present now key element for strong bullish acceleration
At current price we adjust the Tactical support area at 85.00 (prior 63 in January 2024) and the buying area at 92 anticipating a new bullish phase towards 108.00 confirmation level to break above to open 158.00 and 170.00.
Technical Key Elements:
- AAVE reached key support area at 85
- RSI indicator is positive with upside potential
- The Moving average are challenged
- Fibonacci key support is adjusted at 85 while the Elliot wave shows upside potential towards 108 and 158
Trade Idea conclusion: Buy - Conviction: High
• Target 1: 158
• Confirmation: 108
• Buy: add in dip area 92
• Stop: 85
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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