AAVE: Falling WedgeTrade setup : Consolidating in a Falling Wedge pattern. Trend Traders: wait for a breakout, ideally above $100 key level, which could signal a resumption of uptrend with +21% upside potential to $115. Swing Traders: Pullback near $80 support could be a swing trade entry with +18% upside potential back to $95 near-term. That $80 horizontal support level also lines up with a 200-day moving average, making it a robust support zone. Stop Loss (SL) at $75 (just below support zone).
Patterns : Falling Wedge Usually results in a bullish breakout. When price breaks the upper trend line the price is expected to trend higher. Emerging patterns (before a breakout occurs) can be traded by swing traders between the convergence lines; however, most traders should wait for a completed pattern with a breakout and then place a BUY order.
Trend : Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance : Nearest Support Zone is $95, which it broke, then $80. The nearest Resistance Zone is $115, then $125.