Fermented_Crypto

AAVE about to make a move

Fermented_Crypto Mis à jour   
MEXC:AAVEUSDT   AaveToken / USDT
Let's dive into the current chart setup of AAVE and analyze its potential breakout from a symmetrical triangle. Currently, AAVE is testing the lower leg of the triangle, and symmetrical triangles typically offer a 50/50 chance of breaking either up or down. However, let's zoom out to the daily time frame for a clearer perspective.

Upon examining the daily time frame, we observe that AAVE is within a descending triangle formation. This pattern often leans towards a downside breakout. Adding to this bias, the stochastic RSI and the MACD are both trending downwards.

Considering the broader context, I believe there's a higher probability for the triangle to break to the downside due to the daily time frame's descending triangle pattern.

It's crucial to keep an eye on this developing situation, as the measured move for an upside breakout is approximately 15%, while a downside move could reach around 12%. Remember, zooming out to the daily time frame gives us a more comprehensive outlook on AAVE's potential trajectory.

Happy trading, and stay tuned for further updates!
Trade fermée: cible de profit atteinte:
AAVE hit the target and then some 14% Gains
Commentaire:

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.