Chart shows common supports and resistances based on the price action and Fibonacci. The total evaluation for AAVE is bearish. The coin itself has formed a double top and a head-and-shoulders pattern which is indicative of a selling interest than a buying interest, the coin doesn't have any clear buying pressure above the 0.382 therefore one should be cautions when it comes to investing in this coin as it already visited three times of its all time low which the asset is supposed to be creating a new lower high or maintaining support above the 0.236 for a healthy bullish sentiment. One should confirm first the general bias of the market before buying into this coin for a more confident long position.
The recommended strategy for this coin is to only long it from within 0.236 "followed" by a bull market and to definitely SHORT it in approach of previous resistances such as the 0.618 or 0.5 FIBs especially in bear trends for a more confirmed short sell.
The recommended strategy for this coin is to only long it from within 0.236 "followed" by a bull market and to definitely SHORT it in approach of previous resistances such as the 0.618 or 0.5 FIBs especially in bear trends for a more confirmed short sell.
Zlecenie aktywne:
You do not need to establish trend lines in this graph as it is clear that it only points to the downside, you should focus more on considering this coin as one of the good assets to short during a bear trend "from" previous resistances.