1.4.2021 - Aave (AAVE / USDT)
Hi Traders!
It's time for a specific trade, which we will implement today on the daily chart. AAVE is a strong DeFi coin that has a good fundament and in addition, we will trade it against USDT.
What is the difference in trading against USDT and BTC? If bitcoin grows, the altcoin will grow more slowly against BTC, which poses a certain risk. However, if the BTC grows, the altcoin will probably also grow against the USDT. This is the basic formula of the market.
On the chart, we see a very simple setting, which has been working great in recent months and I use it in trading constantly. We have strong support from below and in percentage terms, we have fallen by about 50% from the top, which in the bull market represents a sufficient correction. The correction lasted 43 days, which we also consider sufficient.
We are currently above the trend line and above the moving average, so in my opinion, it is only a matter of time before a stronger movement comes. This is also indicated by trading volumes, which declined steadily during the correction.
I would set the first target to the previous maximum - about 526 USDT and the second somewhere in the zone just below 700 USDT (for me exactly 698 USDT).
There are more similar opportunities on the market and it is a good chance that if the bull run continues, these coins will grow.
May the crypto be with you!
It's time for a specific trade, which we will implement today on the daily chart. AAVE is a strong DeFi coin that has a good fundament and in addition, we will trade it against USDT.
What is the difference in trading against USDT and BTC? If bitcoin grows, the altcoin will grow more slowly against BTC, which poses a certain risk. However, if the BTC grows, the altcoin will probably also grow against the USDT. This is the basic formula of the market.
On the chart, we see a very simple setting, which has been working great in recent months and I use it in trading constantly. We have strong support from below and in percentage terms, we have fallen by about 50% from the top, which in the bull market represents a sufficient correction. The correction lasted 43 days, which we also consider sufficient.
We are currently above the trend line and above the moving average, so in my opinion, it is only a matter of time before a stronger movement comes. This is also indicated by trading volumes, which declined steadily during the correction.
I would set the first target to the previous maximum - about 526 USDT and the second somewhere in the zone just below 700 USDT (for me exactly 698 USDT).
There are more similar opportunities on the market and it is a good chance that if the bull run continues, these coins will grow.
May the crypto be with you!
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