-AAVE has been consolidating for nearly a month
-Price broke out of major resistance
-Bullish inverse head & shoulders pattern
AAVE has been in a sideways slumber the last 3 months with very little price movement. The bulls have managed to break out of this trading range as Ethereum continues to make all time highs. After rising nearly 600% in 2021, the consolation was much needed.
AAVE breaking and holding the important S/R zone of $428 has set the price free for a potential breach of ATH. The price has also managed to break a three month top trend line that has been keeping the price printing lower highs. If AAVE continues to hold these two important levels we can expect prices to reach $525+.
AAVE has printed an inverse head and shoulders pattern on the daily chart. This chart has broke the neckline of $428. If AAVE cannot continue to hold his neckline, price is in danger of falling to the 100MA. If this level fails to hold, the support range can relied upon to produce a bounce.
While looking at the RSI, we can conclude the strength was stuck under a resistance line of around 62. The strength managed to break this key level and is attempting to hold it. This is a bullish signal for the AAVE price. The Stochastic RSI has risen to overbought levels, as long as this strength stays above the overbought line, AAVE is in a good bullish state for a try at ATH.
AAVE intraday levels
Spot rate: $500
Trend: Bullish
Volatility: High
Support: $466
Resistance: $523
-Price broke out of major resistance
-Bullish inverse head & shoulders pattern
AAVE has been in a sideways slumber the last 3 months with very little price movement. The bulls have managed to break out of this trading range as Ethereum continues to make all time highs. After rising nearly 600% in 2021, the consolation was much needed.
AAVE breaking and holding the important S/R zone of $428 has set the price free for a potential breach of ATH. The price has also managed to break a three month top trend line that has been keeping the price printing lower highs. If AAVE continues to hold these two important levels we can expect prices to reach $525+.
AAVE has printed an inverse head and shoulders pattern on the daily chart. This chart has broke the neckline of $428. If AAVE cannot continue to hold his neckline, price is in danger of falling to the 100MA. If this level fails to hold, the support range can relied upon to produce a bounce.
While looking at the RSI, we can conclude the strength was stuck under a resistance line of around 62. The strength managed to break this key level and is attempting to hold it. This is a bullish signal for the AAVE price. The Stochastic RSI has risen to overbought levels, as long as this strength stays above the overbought line, AAVE is in a good bullish state for a try at ATH.
AAVE intraday levels
Spot rate: $500
Trend: Bullish
Volatility: High
Support: $466
Resistance: $523
Haftungsausschluss
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.