AAVE / LENDUSDT ✅ Huge Uptrend, Looking at Horizontal Levels MTF

💬 Aave's LEND token is taking DeFi to a whole other level with its bullish price action. LENDs BTC pair recovered from a low of 30 sats and is currently trading at over 2000 sats. That is an impressive run, to say the least.

While the bullish price action gives every reason to bet on the bulls, long term investors may want to be cautious given the recent rejection of the daily time frame orderblock not too far from LENDs BTC pairings previous All-time high.

Let's take a look at some short-term and long-term levels to see what's in store for LEND bulls.


Hit that 👍 button to show support for the content!
Help the community grow by giving us a follow 🐣



-----



Support 30 min:

• S1: The S1 S/R bullish orderblock is the first point of support for the bulls. A quick move off this followed by more upside is ideal, although not the most likely scenario.
  
  
• S2: The S2 orderblock provides the next line of support for bulls. A quick touch here before a move up could make sure LEND keeps mooning without delay.
  
  
• S3: The S3 cluster is logical support for the bulls to hold. It shakes out some "weak hands," but gives bulls solid support to re-accumulate at and retest before a move up. If S3 falters, there is a lot of local support to act as a backup as well. Very logical support level.
  
  
• S4: If S3 falters, the S4 orderblock cluster is the backup, could be a quick retest of this level if S3 seems to be holding.
  
  
• S5: The S5 cluster is the last hope for the bulls if S4 can't hold. We can still run from here if needed, but best not to have to retest this level. It is a long way down if the bulls can't hold this run, so best not to test lower support levels.
  
  
  Resistance 30 min:
  
• R1: The R1 bearish orderblock is the only thing that stands between the bulls and new local highs. However, it is important to be aware of the higher time frame resistance bulls face.
  
  
  
  
  
  
  Support Daily:
  
• S1: The S/R flip at 1800 sats is the most logical support for the bulls. With price action like we see in LEND, there is only so much the bulls can give back before the bears go all Revenant on them.
  
  
  Resistance Daily:
  
• R1: The daily time frame R1 orderblock has already acted as resistance and likely will again.
  
  
• R2: The R2 previous top range should act as a final point of resistance until if and when the bulls can make new highs.
  

-----



Summary:
LEND is super bullish, and DeFi in general is bullish right now. However, despite this, bulls and especially investors need to take the long-term resistance levels from 2018 into account.


Resources:
aave.com/

✨Drop a comment asking for an update, we do NEW setups every day!✨