AAVE/USDC - AAVE reached 300 target as expected. A pause before rise is expected.
Traduction faite par Deepl pro
Market & Ticker: AAVE - AAVE/USDC
Date: 9/12/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
Last update, November 2024 : In february & September AAVE reached the expecting target 1 at 158.00 before surpassing the level with a strong momentum - Since AAVE break above the intermediate flag this week the door for 210 and 300 is now open
Today after having reached 300 target a pause in sideways can’t be ignoreed.
At current price we adjust the Tactical support is adjusted at 210 to anticipate a pause in sideways in wave 4 before a new bullish phase towards 350 and 580
Technical Key Elements:
- RSI indicator is positive but at resistance
- The Moving average are support at 210
- Fibonacci key support is adjusted at 210 while the Elliot wave shows upside potential towards 350 and 580
Trade Idea conclusion: Buy
Strategic Target : 580
Tactical Target: 350
Stop: 210
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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