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Golden_Star1994
Jan 4, 2024 4:04 PM

AAVEUSDT|The end of the BULLISH trend Short

AAVE / TetherUSBinance

Description

After the upward lag that started at the price of 63 dollars, it has continued its upward trend in the form of an ASCENDING channel.

By reaching the resistance levels, we saw returns from these areas as long shadows, which indicates high liquidity in these areas and it is difficult to pass through these areas.

Multiple reversals from these areas show the weakness of the momentum, if the last downward movement leads to the breaking of the channel, we can enter sales transactions in the reversals to the channel, up to the support levels created by the origin of the movement.

The prices of 78.26 and 63.51 are suitable targets for selling transactions.
Comments
behdark
In my opinion, the price will not move according to your analysis, it will probably go up and reach the resistance zone D
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