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Market & Ticker: AAVE - AAVE/USDC
Date: 15/07/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
In February AAVE reached the expecting target 1 at 158.00 - Since AAVE setback and bounced off support area at 75/85 and present now key element for strong bullish acceleration
At current price we adjust the Tactical support area at 89.00 and the buying area at 100 anticipating a new bullish phase towards 130.00 confirmation level to break above to open 158.00 and 210
Technical Key Elements:
- RSI indicator is positive with upside potential
- The Moving average are challenged and act as support
- Fibonacci key support is adjusted at 89 while the Elliot wave shows upside potential towards 130 and 210
Trade Idea conclusion: Buy
- Target 1: 158
- Confirmation: 130
- Buy: add in dip area 100
- Stop: 89
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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