Is $AAVE preparing to break a new peak? A promising technical opportunity awaits the smart trader!
Technical Analysis - AAVE/USDT:
Current Price: $271.61
Daily Increase Percentage: +4.62%
RSI at 70.8 ➜ Near the overbought area, but still positive if momentum continues
Price is trading above the moving averages MA5 and MA10 ➜ Clear upward trend
Bollinger Bands are slightly narrowing ➜ Expecting a price explosion soon
The last strong bullish candle closed near the resistance ➜ High probability of a breakout
Suggested Trading Strategy:
Entry Areas:
Initial Entry: Between $268 - $272
Confirmation Entry: Upon breaking the $283 level with a bullish candle and high volume
Short-term Targets:
First Target: $290
Second Target: $305
Third Target (Ambitious): $325
Suggested Stop Loss:
Below $257 ➜ Breaking the dynamic support in the short term
Trading Type:
Suitable for trading contracts with low leverage
Or spot trading for those looking for relatively calm and safe deals
Dividing capital into installments increases the chances of success and reduces risks
Question for the audience:
Do you see AAVE capable of breaking the $282 area and launching towards the $300 peak?
Or will the current resistance represent a tough barrier? Share your opinion 👇