🚀 $AAVE is showing a potential technical setup!
The 1W chart on Bybit illustrates AAVE carving out a macro base structure following a multi-month corrective phase, currently retesting intermediate resistance levels.
📈 The Technical Setup:
• The Pattern: Descending Resistance Retest & Macro Base Formation
• Short-term Target: 149.43 USDT (Fib 1.618 level)
• Macro Objective: 229.05 USDT to 268.80 USDT
• Market Structure: Reversal / Accumulation
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 104.93 - 124.83 USDT
• Resistance: 240.00 - 260.00 USDT
• Breakout Level: 149.43 USDT
• Stop Loss / Invalidation: 85.02 USDT
📊 Confirmation:
• Volume: Neutral/standard volume
• Momentum: Bullish recovery candles forming off the base support structure
• Trend: Attempting macro trend reversal following a prolonged downtrend
⚠️ Invalidation:
A decisive weekly close below the 85.02 USDT level invalidates this recovery setup.
Patience is advised as the price tests key structural regions near macro resistance.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#AAVE #crypto #BinanceSquare #tradingview #TechnicalAnalysis
The 1W chart on Bybit illustrates AAVE carving out a macro base structure following a multi-month corrective phase, currently retesting intermediate resistance levels.
📈 The Technical Setup:
• The Pattern: Descending Resistance Retest & Macro Base Formation
• Short-term Target: 149.43 USDT (Fib 1.618 level)
• Macro Objective: 229.05 USDT to 268.80 USDT
• Market Structure: Reversal / Accumulation
🎯 Key Levels to Watch:
• Support / Accumulation Zone: 104.93 - 124.83 USDT
• Resistance: 240.00 - 260.00 USDT
• Breakout Level: 149.43 USDT
• Stop Loss / Invalidation: 85.02 USDT
📊 Confirmation:
• Volume: Neutral/standard volume
• Momentum: Bullish recovery candles forming off the base support structure
• Trend: Attempting macro trend reversal following a prolonged downtrend
⚠️ Invalidation:
A decisive weekly close below the 85.02 USDT level invalidates this recovery setup.
Patience is advised as the price tests key structural regions near macro resistance.
💎 Creator: NOUMAN_DON (@NOUMAN_DON)
#AAVE #crypto #BinanceSquare #tradingview #TechnicalAnalysis
