Aave #AAVE $AAVE (July-16)
AAVE just broke out of the Channel pattern and the target of this pattern is the $120 zone. We can accumulate AAVE in the $80-90 zone for the medium term target because if it breaks out of the $120 zone it will surge to the $190-200 zone.
The $120 zone is currently a very strong resistance zone so we can take profit there to avoid losing profits and consider buying back at the level of $100 for our target of $190-200.
However, we should still watch out for a possible bad case that if AAVE loses the $80 zone, we need to sell AAVE right away because it could fall sharply to the $50-60 zone or even deeper.
The $120 zone is currently a very strong resistance zone so we can take profit there to avoid losing profits and consider buying back at the level of $100 for our target of $190-200.
However, we should still watch out for a possible bad case that if AAVE loses the $80 zone, we need to sell AAVE right away because it could fall sharply to the $50-60 zone or even deeper.
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