Aeon reached an all-time high on the 1st of October, hitting $3.74. The correction down took place and AEON/USD was moving down for just over a month. On the 3rd of November, it was stopped by 127.2% Fibonacci retracement at $1.15, where it found the support.
Support has been clearly rejected and Aeon immediately started to rise, gaining over 80% in less than 24h. This impulsive wave up resulted in break above the 200 Moving Average where currently Aeon is finding the support.
If Aeon will avoid a daily close below the $1.15 support, another wave up could be expected. The first target is seen at 127.2% Fibonacci applied to the first corrective wave after the breakout of the Moving Average. Send and the more important target is at 227.2% level representing $3.15 level.
Support has been clearly rejected and Aeon immediately started to rise, gaining over 80% in less than 24h. This impulsive wave up resulted in break above the 200 Moving Average where currently Aeon is finding the support.
If Aeon will avoid a daily close below the $1.15 support, another wave up could be expected. The first target is seen at 127.2% Fibonacci applied to the first corrective wave after the breakout of the Moving Average. Send and the more important target is at 227.2% level representing $3.15 level.
Trade closed: target reached
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