AAVE moved in a more steep ascending channel which seems to take us to at least $775 if this momentum is maintained!
Right now, we are just under the resistance at $530 and we seem to struggle a bit here. This is also shown by the indicators with a bearish divergence on RSI and MACD losing strength.
However, I am still bullish on AAVE as long as we stay in this ascending channel. If we break support, then my bias will change, but right now, I don't see why we can't pump up again after we cooldown here a bit and refuel.
On daily timeframe, the indicators look ok to me to go higher. We just need to see how price action develops then we will know.
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Right now, we are just under the resistance at $530 and we seem to struggle a bit here. This is also shown by the indicators with a bearish divergence on RSI and MACD losing strength.
However, I am still bullish on AAVE as long as we stay in this ascending channel. If we break support, then my bias will change, but right now, I don't see why we can't pump up again after we cooldown here a bit and refuel.
On daily timeframe, the indicators look ok to me to go higher. We just need to see how price action develops then we will know.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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