AAVE/USDT Broke the bearish pattern. Possible Downward momentum?

πŸ’Ž AAVE has undeniably attracted significant attention in the market. Currently, AAVE has validly broken out of the bearish flag pattern, indicating a bearish short-term momentum for AAVE. The ongoing process involves a retesting phase at the support trendline of the bearish flag, aiming to continue the downward movement.

πŸ’Ž The target for the downward movement in AAVE is the demand area ranging from $77 to $74. In this zone, AAVE is anticipated to bounce back, resuming its upward trajectory, as the mid-term movement remains bullish, increasing the probability of reaching our target major supply area.

πŸ’Ž The bad scenario is confirmed if, during the retesting phase at the demand area of $77 - $74, AAVE fails to manage the zone and experiences a breakdown. Should this occur, AAVE will revert to bearish movement, potentially retracing to the next lower demand area or even the strong support zone.

Do you Want to start trading like a PRO?

Follow a team of traders with 10+ years of experience?


πŸŽ–οΈOr Fully Upgrade Your Trading With Clean strategy, and PRO Crypto Signals πŸ‘‰

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.