AAVEUSDT Weekly Update.Hello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:
The AAVE/USDT weekly chart depicts a descending triangle pattern, which is typically a bearish continuation pattern. The current price is trading below the moving average, indicating a bearish trend. The RSI is neutral to slightly bearish.
If the price breaks below the horizontal support, a further decline to $65 could be anticipated. Conversely, a breakout above the downtrend resistance line could see the price targeting $530, representing a substantial potential upside in the upcoming bull run.
Key Observation:
~ Primary Support: $80 to $88.
~ Lower Support/Entry: $65.
~ High Liquidity Range: $50 to $55.
~ Resistance: $100.
~ Possible Rally: $240, $335, $412, $530.
DYOR. NFA.
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