📈 Aave's Weekly Analysis: Potential Breakout from Prolonged Con🔍Aave's price action in the weekly timeframe indicates the possibility of breaking out of its 658-day consolidation phase, potentially initiating an upward trend.
✅After breaking its trend line, the price has surged by 100%. Although it faced rejection from the 110-120 supply zone initially, a second attempt with significant volume and bullish candlestick patterns suggests a breakthrough.
⭐️The recent candlestick closure above this zone also validates the bullish sentiment, supported by Dow Theory principles.
💥Furthermore, the RSI oscillator entering the overbought zone indicates potential upward momentum, while the SMA25 indicator, alongside the price action, has bounced back after rejection from the supply zone.
🛒For investors considering adding Aave to their portfolio, setting a stop-loss at a minimum of $82 or a more conservative approach at $52 is recommended. As for targets, holding until the all-time high (ATH) could be a strategic option.
🧠💼This is not financial advice, and it is only my personal opinion on this cryptocurrency. Please do your own research before making any investment decisions.
