AAVE: Approaching Support
Trade setup: Trends are mixed to down. After a bearish breakout from a Channel Up pattern, price broke below 200-day moving average, which is a sign of downtrend. Trend Traders: It bounced off of $80 support and could approach $100 but it’s a higher risk trade setup since overall trend is down. Price needs to break back above 200-day MA (~$100) to resume its uptrend.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance: Nearest Support Zone is $80, then $60. The nearest Resistance Zone is $105 (previous support), then $130 and $150.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is above MACD Signal Line (Bullish) but RSI ~ 50 (Neutral).
Support and Resistance: Nearest Support Zone is $80, then $60. The nearest Resistance Zone is $105 (previous support), then $130 and $150.
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