AAVEUSD got overbought on the 1D timeframe (RSI = 70.408, MACD = 2.580, ADX = 34.530) after the strongest two day rise of the current Bull market. The pattern is a Channel Up, which has long turned the 1W MA50 into Support and despite the overbought technicals, it can extend up to 1W MA200, which is the last Resistance remaining and the level that rejected the...
12h time frame
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AAVE broke the bottom triangle structure and currently retesting 0.618 Fibonacci Projection. There is a risk that keep retesting until 0.382 Fib, where price is around 73, so our SL need to avoid this scenario. If AAVE maintain pumping momentum, there are three targets.
TP: 126 / 146 / 168
SL: 70
AAVEUSD has closed two 1D candles over the Channel Down pattern of February and has validated a new rally on the 1D timeframe which is on very healthy bullish technicals (RSI = 68.966, MACD = 3.550, ADX = 52.986).
As long as the 1D MA200 is turned into Support, we will be bullish targeting the R2 (TP = 95.000).
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