Let's take a general look at AAVE, a DeFi project currently with a market cap of $3.52 billion, ranked 32nd in coin market cap.
🔍 In the 4-hour timeframe, as you can see, there's a range box between $231 and $278, and the price has been oscillating within this box for about three weeks now.
📉 Presently, the price has hit a lower high compared to the $278 ceiling and has reached the $231 floor. Given the suitable bearish momentum, if the $231 level breaks, you could enter a short position. A break below 34.50 in the RSI would be a good confirmation for this move.
📈 On the flip side, if the price bounces back from the $231 floor and moves towards the $278 ceiling, breaking this level could provide a good opportunity to open a long-term long position. A risky long position could also be considered if the $251 level is breached, but be aware that it would carry significant risk.
🔍 In the 4-hour timeframe, as you can see, there's a range box between $231 and $278, and the price has been oscillating within this box for about three weeks now.
📉 Presently, the price has hit a lower high compared to the $278 ceiling and has reached the $231 floor. Given the suitable bearish momentum, if the $231 level breaks, you could enter a short position. A break below 34.50 in the RSI would be a good confirmation for this move.
📈 On the flip side, if the price bounces back from the $231 floor and moves towards the $278 ceiling, breaking this level could provide a good opportunity to open a long-term long position. A risky long position could also be considered if the $251 level is breached, but be aware that it would carry significant risk.
💥 Don’t Miss Out!
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
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.
💥 Don’t Miss Out!
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
💰 Join the Telegram Channel Now:
t.me/FireHoseReelCrypto
🏆 Best Crypto Exchange: promote.mexc.com/r/QFghw8yb
🤵 Business Contact: t.me/FireHoseReel
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.