AAVE COIN LONG IDEA - AAVE ALTCOIN SWING LONG
AAVE is a coin I monitored closely during Summer 2024. While most altcoins were making new lows, AAVE was accumulating and showed resilience, which suggested to me that it might outperform others in the 2024-2025 altcoin bull season.
Technical Analysis: Price accumulated within the monthly demand zone throughout Summer 2024. It finally took off, breaking the weekly structure and creating strong bullish momentum on the weekly and daily charts.
Price broke the bearish trendline with strong momentum and created a daily demand zone below. I’d like to see price retrace into the daily demand, hit the maximum discount area, possibly test the trendline, and then take off toward the target.
As always, look for lower time frame confirmations within the entry zone before initiating the trade.
Stop loss: $110
Target: $261
Technical Analysis: Price accumulated within the monthly demand zone throughout Summer 2024. It finally took off, breaking the weekly structure and creating strong bullish momentum on the weekly and daily charts.
Price broke the bearish trendline with strong momentum and created a daily demand zone below. I’d like to see price retrace into the daily demand, hit the maximum discount area, possibly test the trendline, and then take off toward the target.
As always, look for lower time frame confirmations within the entry zone before initiating the trade.
Stop loss: $110
Target: $261
Trade active
We are in profits.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.