AAVE has been sitting in a key support/resistance zone since the beginning of October. Attempts to move upwards have been rejected multiple times around the 322 mark. Another attempt or two could see a big upwards impulse.
From Feb - June 2021, AAVE broke out from this zone 6 times gaining approx. +58% on average per breakout 🚀. Breakout period ranged from 3 - 10 days. ⌚⏩
Since the August market rally began, AAVE has accomplished the same feat twice so far with average gains of +43.35%.
Great time to add this to your portfolio at current prices or wait for the breakout and close above the 321-323 level.
A daily close below the long-term trend line (orange) would invalidate this idea, so add your SL accordingly.
Note: The fact that it's had this many quick pumps from the same price level also indicates that AAVE dumps as often as it pumps. So if you catch the pump, keep securing profits on the way up!
From Feb - June 2021, AAVE broke out from this zone 6 times gaining approx. +58% on average per breakout 🚀. Breakout period ranged from 3 - 10 days. ⌚⏩
Since the August market rally began, AAVE has accomplished the same feat twice so far with average gains of +43.35%.
Great time to add this to your portfolio at current prices or wait for the breakout and close above the 321-323 level.
A daily close below the long-term trend line (orange) would invalidate this idea, so add your SL accordingly.
Note: The fact that it's had this many quick pumps from the same price level also indicates that AAVE dumps as often as it pumps. So if you catch the pump, keep securing profits on the way up!
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