AAVE has been correcting lower for a couple of weeks. Since its high in the last days of 2021, this cryptocurrency has corrected from about $300 down to nearly $200.What is interesting about this decline is that it was holding inside this downward sloping green trend channel.
Then, earlier this week, found support at this channel before falling further when the Fed minutes were released. Now,
AAVE is parked on top of the 61.8% Fibonacci retracement level from the December rally. If another rally is going to spark, this is a common place it would begin from. If prices jump up back inside the green trend channel, then that will be a clue that a larger rally may develop up to $240 and possibly $270.Good luck!
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We are redefining signal groups with AI generated signals. Our bot scans the top 3000 coins/tokens by market capitalization alerting you to the strongest trends.
DM us for more information about the bot and our services.
DM us for more information about the bot and our services.
Related publications
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.