$AAVE has drafted a hammer like candle pattern on the four-hour chart. Additionally, this support came at previously broken resistance, a common occurrence.
Notice how each of the previous green 4-hour candles have been on bigger than average volume. Red candles have been on smaller than average volume. This indicates support by larger investors.
$AAVE has been correcting lower for a couple of weeks. Since its high in the last days of 2021, this cryptocurrency has corrected from about $300 down to nearly $200.
What is interesting about this decline is that it was holding inside this downward sloping green trend channel.
Then, earlier this week, found support at this channel before falling further when...
Technical Analysis Summary (POLKADOT)
We have 2 downtrend which is currently active in red.
The wider (weekly trend ) is stronger than the Daily trend.
We have many resistanse and support levels that I have mentioned above.
I use thickness as an indicator of stregth of levels (ONLY FOR VISUALS).
Yellow support level...
AAVEUSDT (Daily Chart) - Technical Analysis
Entry Point :
296 - 312
Target 1 - 350
Target 2 - 370
Target 3 - 400
Target 4 - 500
Target 5 - 780
Stop Loss : 256
Keep in mind leverage trading can be highly risky, trade with not more than 5% of your funds in leverage trades.
*Not financial advice.
If you want me to share these trades here, hit the like button and...
This is AAVE breakout scenario in ascending triangle pattern, this pattern is bullish pattern, if AAVE breakout this blue resistance, AAVE will go to $500, this analysis will be invalid if AAVE break white trendline.
I market my level longs ago. Finally AAVE gave me opportunity. Aave is a very liquid coin and one can play big positions.
I'm looking for the highs to be taken now. It's a high probability setup. All I need is patience and plan to finish.
All the best!
AAVE is very undervalued right now. It is in a good buying zone around the $302 key level. Personally, I wouldn't recommend dumping your whole account into this. You could start DCAing slowly and see where it goes in the upcoming days. BTC dominance is in an uptrend. Once it crumbles, AAVE is going to make big moves; since it is one of the tokens that didn't move...