AAVE local analysis updated, Bear trend continue

AAVE Locally, price continues bearish after falling out of the wedge, completing wave 1. Until the price gets above the orange descending trend-line, the probability is downside continuation.

Wave 2 appears complete after the big drop, black swan event. I was looking for a dip back into the long lower wick, which we have and price found support. This suggests we grind higher from here, but we must get through the daily 200EMA, just above the High Volume Node resistance and daily pivot. This area will be tough to crack.

The alternative count is a triangle forming discussed below, which is the (A)(B)(C) shown.

📈 Daily RSI has printed bullish divergence from the oversold threshold, which is bullish and a bottoming signal.

👉 Continued downside has a next target of $150.

Safe trading