AAVE/USDT: Bullish reversal underway - out performer

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Based on Daily Chart -------

AAVE/USDT: Bullish reversal underway - strong outperformer

Context
- The Global Crypto market leads by BTC and ETH reversed a new bullish trend - AAVE is one of the coin which outperform ETH at the moment
- We are watching at 130 to bypassed to extend the bullish recovery in progress
- Watch 70 as key support


Market configuration

- Graphical Elements :
Graphical support = 70 & 46
Graphical Resistance = 130 / 175 / 580

- Mathematical Indicators:
EMA ( Exp Moving averages) are support at 89 = Bullish
RSI indicator (below) is now above 50% with room to the upside = Bullish

- Elliot & Harmonic Wave (Fibonacci):
A last drop to draw the wave (c) B is now completed - the market is now bouncing off in recovery
Fibonacci resistance of the wave = 130
Fibonacci bullish wave target at 175
Fibonacci bullish wave support at 70
Fibonacci bearish wave target at 46

Conclusion

Prefered case => As long as 70 remains support a larger recovery towards 130 is expected with strong conviction, only a break above 130 will open a direct recovery potential towards 175 and the previous top

Alternative case => Breaking 70 a new bearish attack towards 46 will occur