AAVEUSD #bullish
Since reaching its lowest point in June 2022, AAVE has shown a consistent pattern of accumulation and range-bound trading, fluctuating between $107 and $48. This behavior indicates a strong setup for an upward trend.
Reasons for a Bullish Outlook:
The Relative Strength Index (RSI) on a weekly basis remains steadily above 50%, signaling strength in the market.
The price has been consistently consolidating above the 200-week Exponential Moving Average (EMA), suggesting a solid support level.
A breakout has been observed from a two-year downtrend, indicating a potential reversal in market sentiment.
The weekly EMA ribbon has turned bullish, further reinforcing the positive outlook.
Detailed analysis and additional insights are provided on the accompanying chart, highlighting these bullish indicators.
2 potentials for midterm
Additionally, for AAVEBTC, a significant point to monitor is the heavy resistance at 0.0026 sat. It's crucial to watch for this level and a breakout of the RSI above 54% on a weekly basis, which could indicate a strong upward movement
Reasons for a Bullish Outlook:
The Relative Strength Index (RSI) on a weekly basis remains steadily above 50%, signaling strength in the market.
The price has been consistently consolidating above the 200-week Exponential Moving Average (EMA), suggesting a solid support level.
A breakout has been observed from a two-year downtrend, indicating a potential reversal in market sentiment.
The weekly EMA ribbon has turned bullish, further reinforcing the positive outlook.
Detailed analysis and additional insights are provided on the accompanying chart, highlighting these bullish indicators.
2 potentials for midterm
Additionally, for AAVEBTC, a significant point to monitor is the heavy resistance at 0.0026 sat. It's crucial to watch for this level and a breakout of the RSI above 54% on a weekly basis, which could indicate a strong upward movement
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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.
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.