AAVE / TetherUSLong
AAVE: Approaching Support
AAVE (AAVE) technical analysis:
Trade setup: Swing Traders: Wait for pullback near $50 support area, which could be a swing entry. That’s where price found support in June. Trend traders: price needs to break back above $70 resistance and 200-day moving average (~$80) to reverse downtrend. Previously, price broke out from Falling Wedge, and reached $100 resistance area where it got rejected.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $50. The nearest Resistance Zone is $70 (previous support), then $100, and $115.
Trade setup: Swing Traders: Wait for pullback near $50 support area, which could be a swing entry. That’s where price found support in June. Trend traders: price needs to break back above $70 resistance and 200-day moving average (~$80) to reverse downtrend. Previously, price broke out from Falling Wedge, and reached $100 resistance area where it got rejected.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $50. The nearest Resistance Zone is $70 (previous support), then $100, and $115.
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