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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