AAVEETH trade ideas
#AAVEETH - 10% Up or 15% Down?We've locked in a profit of well over 10% on a previous Long trade within #AAVEETH - we've got a Sell signal from Crypto Tipster v2..
Looking at this chart we're seeing two possibilities, the first is that CTv2 is absolutely right with it's signal, this would represent a drop of around 15% within #AAVE to the next level of support.
The second scenario is the layer of potential support just under the current price is strong and rejects the price decline, this would create a pinch point and possibly push the price upward to next resistance, gains of 10%.
What do you think?
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AAVE vs. ETH. AAVE is the better hold.At the current moment, it's hard to predict how crypto will fair against USD. However, we can reliably see which pairs will consume a larger share of overall market cap as the space continues to consolidate and burn off fat.
Shown in the top chart is the AAVE/ETH daily pair which just had a moving average golden cross (50/200). This sort of cross is fairly monumental for the daily timeframe and indicative of a major trend in price.
Shown on the bottom chart is the AAVE/ETH weekly pair with Ichimoku indicator showing a bullish cross (Tenkan & Kijun). This sort of cross is VERY monumental for the weekly timeframe. We must wait for the weekly candle to close to confirm this cross.
Fundamentals:
AAVE continues to be a top utilized platform in the defi space despite the market. The biggest drawback to AAVE price action thus far has been it's lack of tokenomics ("token not needed"). Recently AAVE has announced that it will be utilizing it's own native stable coin (GHO) on it's platform. Stakers of AAVE will be able to receive a discount when minting GHO. With AAVE's platform volume and utilization of a wide range of assets and stable coins....a very bullish game theory can be derived from this announcement.
Overall, AAVE is showing tremendous strength against ETH as well as the market in general. If Bitcoin continues to crab in this range, I expect a continued uptrend for AAVE on it's USD pair. However its important to note that this movement could be a mixture of AAVE bullishness and ETH bearishness which can somewhat muddy the USD price action.
Another oneDid you miss trades, folks?🔥
There is one more trade on crypto market.
Flag formation on AAVE/ETH crypto pair.
Price had strong and bullish sentiment before consolidation.
Then price bounced from support and resistance levels multiple times.
One more touch of support and resistance zones is expected.
However pattern may become circumcised and increase rapidly much earlier.
So follow the chart and look for the clear breakout carefully.
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AAVE / ETHHistorical resistance being broken on the hourly. Can also spot a cup and handle on 1H and 4H. The 4h still haven't crossed historic resistance fully, so if u enter, exercise caution.
1h n 4h hooked and shooted from the 9MA.
Breaking the 0.15585 would confirm bias to the upside. Following tp would be 0.17 and 0.92
AAVEETH: Nice Bullish Pattern FormingThe harmonic pattern is completed so we expect the long soon. It may want to drop to the buy zone first to eat up more liquidity or just take off now. As the structure develops i will keep this idea updated, so like, comment, follow so you don't miss any update. Thank you. .
