您现在的位置是:AAVE/USD could rally to $350 this week >>正文
AAVE/USD could rally to $350 this week
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛173人已围观
简介AAVE could rally to a new all-time high near $350 if bulls hold above $260Aave has traded within a b...
AAVE could rally to a new all-time high near $350 if bulls hold above $260
Aave has traded within a broader ascending triangle pattern over the past few days, after sellers reacted swiftly to AAVE/USD hitting a new all-time high. Although bears could sink prices towards key support areas, Aave’s technical picture suggests a breakout to a new ATH is possible in the short-term.
AAVE/USD
AAVE has broken lower after touching a new all-time high of $292, with prices correcting to lows of $265 in the past 24 hours.
Currently, AAVE/USD is trading near the middle trendline of what appears to be an ascending parallel channel. If bears push lower, prices are likely to drop to the 0.236 Fibonacci retracement level of the move from $151 low to $292 high. It would mean a continuation of the decline to price levels around $259.
The area, however, has robust support levels that have provided a bounce-off to prices near $288. The lower boundary of the channel pattern, the 20-SMA, and the support line of a rising trendline all confluence around the $250—$257 zone.
AAVE/USD 4-hour price chart. Source: TradingView
The 4-hour chart shows that bulls still have the upper hand as the RSI is trending with a bullish divergence above 60. The moving average curves are also rising, while sell-side volume has shrunk considerably.
A bull pennant pattern has also formed on the hourly chart of the AAVE/USD pair to suggest its price is likely to break higher. By measuring the height of the flagpole, we can determine how high the breakout is likely to be. AAVE’s price could thus rally by 20% or more after a bullish breakout to $323. The target from here will be the $350 level.
AAVE/USD hourly price chart. Source: TradingView
On the downside, the RSI is close to the 50 point level and could dip to hand bears an added advantage. We could thus see AAVE drop below the descending triangle pattern formed over the past few hours. If this happens, the decline could extend past the 0.5 Fibonacci level ($264) of the bounce from $240 low to $288 high.
If these levels do not hold, bulls can rely on the 50-SMA ($261) and the 0.618 Fibonacci level ($258). A horizontal support line provides further support at $240, with the 0.5 ($221) and 0.618 ($205) Fibonacci retracement levels of the move from $151 low to $292 high also serving as possible anchors.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/234859.html
相关文章
FTX expands to the Bahamas and Gibraltar
AAVE/USD could rally to $350 this weekCryptocurrency exchange FTX has set up shop in Gibraltar and the BahamasFTX has announced it is expa...
阅读更多
Ripple Labs Cuts Ties With MoneyGram
AAVE/USD could rally to $350 this weekRipple has announced that it has severed ties with money transfer service provider MoneyGramYesterda...
阅读更多
Ripple (XRP) price poised above crucial support at $0.50
AAVE/USD could rally to $350 this weekIf Ripple’s price slips below $0.50, losses could extend to $0.34XRP price continues to hold w...
阅读更多
热门文章
- Ethereum Miners Earn Less From Fees As DeFi Hype Slows Down
- Guarda Wallet launches crypto rewards program for referrals
- OKEx Halts Crypto Withdrawals Due to Arrest of Founder
- SatoshiVM Dumps Millions, Sending Price into Freefall; $GFOX ICO Tipped as Best of 2024
- Much anticipated Filecoin mainnet launch to happen today
- Turkish president says authorities are "at war" with crypto
最新文章
GBTC outflows slow, signalling possible rebound; $GFOX set for major rally
IOTA price eyeing channel breakout to $1.60
Where to buy Maker as MKR sees a rise in volumes
Binance sets up three businesses in Ireland
Gensler reiterates support for a Bitcoin futures ETF
Coinbase to raise S1.5BN through debt offering