💎Technical Analysis Summary💎
-LEND failed to get above the 7k sat range and saw a decline
-The price is now breaking the neckline of a Double Top reversal pattern
-If the daily candle closes tomorrow with an engulfing candle
-This is a big warning sell signal and may reach the next support at 3.6k sat
-Or even down to the 2.2k sat region where...
-Aave Lend is starting to pull back to previous key areas
-The levels need to be watching is around 5741 - 5168 sat range
-The 0.618 Fib level was previous resistance turned support
-We might see a bounce reaction at 5741 sat if not, monitor the next level
-Be patient playing bounce play or catching the bottom
-Always wait for price reaction to confirm...
". There is a possibility of temporary retracement to suggested support line (0.0000577).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. LENDBTC is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which...
Aave got nice room to grow here, with a bullish divergence pattern on RSI and Price action.
0.236 fib level could act as resistance (or 50 level on RSI), but if broken 0.00006765 would be the next target. That is where I am looking for.
Daily RSI look good aswell, where the RSI has to found support above the 50-line to continue the uptrend.
Another DeFi token that consistently retraces before pushing to new higher highs completed the bounce and likely is on its upward move. Again, I'll happily miss out on the first 10% of gains but benefit from the other 60%+ this offers on average