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SwallowPremium
Apr 11, 2024 3:33 PM

AAVE(AAVE): Sharp Break of EMAs (100&200) Short

BYBIT:AAVEUSDT.P240
AAVEUSDT Perpetual ContractBybit

Description

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Aave caught our attention with a not-so-sharp break of EMAs, where last time we had a similar move but got rejected from the trend line there.

We are looking here for a potential touch of that same trend again, and if we break it this time, we might see some great downward movement here!

Swallow Team

Comment

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Aave has now secured a full branch of EMAs (just as last time). Now all we need is some pressure on that trend line in order to break the pattern.

If we yet see another fakout, we will have a touch of the upper resistance zone!

Comment

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Aave has broken from that bullish trend and secured fully those EMAs there, resulting in a nice 24% market price movement.
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