Aave

AAVE Macro changed... Another huge triangle?

47
AAVE macro has changed with the recent price action. We appear to printing a multi-year macro triangle in wave B, with wave (C) now complete on last weeks wipeout.

Price touched the S1 pivot and High Volume Node support just above the golden pocket.

Weekly RSi still has room to fall with no bullish divergence yet. The next longer term target will be the pivot point and the top of the first wave of wave D, $260, followed by the triangle upper boundary at ~$340. Breaking out of the triangle has a first target of the all time high at $670. Not what AAVE investors want to see but still a x3 from here.

Price is above the weekly 200EMA but only just.

Analysis is invalidated if we fall below wave (A), $102 and will liley see a slow death to $45 if this happens.

Safe trading

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