AAVE, Developments In Ascending-Channel, Important Zones!

Hello,

Welcome to this analysis about AAVE, we are looking at the 6-hour timeframe perspectives. In my analysis, I found some interesting developments that AAVE is forming with recent bullish volatility coming up and moving to the upside after bouncing at the local support zone of 215. Besides that there is the main formation forming in which AAVE will develop further in the upcoming times and which will be the source of incoming volatilities. When considering AAVE it has the be noted that not every altcoin is building such increasing volatilities, there are also ones looking more flat or bearish while the volatility since the bounce in the structure looks solid, therefore I detected all the important levels and likely determinations we should consider with the coin.

Structural Developments:
As when looking at my chart we can watch there how AAVE has formed this major ascending-channel-formation in the structure marked with the black boundaries. Within this channel, AAVE has a coherent wave-count in which it already completed the waves A and B in the schedule and is now about to develop the main wave C to the upside in which it formed the first local wave A that recently marked above the 100-EMA in red and the 200-EMA in green which is a good sign for the continuation in this structure. Also has AAVE since moving above these important EMA-levels the ability to build a bull-flag, a bull-pennant, or a triangle-formation above these levels which inhabits the continuation pattern for the further wave-development.

Upcoming Determinations:
Taking all these factors into the consideration now AAVE has established a great structure with great volatility and is likely to continue with the wave-count in the determined ascending-channel, for now entering on the long-side should not be the best option as AAVE already increased substantially with bullish pace however there is the potential for a short when AAVE moves into the upper-wave-count-determination-zone marked in my chart in the blue level and the black box within this level, however, this zone is simultaneously resistance. In that case, everything depends on how AAVE approaches this zone of target and resistance, if it is strong or if it is weak, both developments can give indications for further movements.

In this manner, thank you for watching my analysis about AAVE and the main ascending-channel-developments forming with incoming perspectives, great when you support it with a like and follow or comment for more market insight!

Information provided is only educational and should not be used to take action in the market.