🔭 AAVE/USDT SIGNAL 🎯

🔰 Analyzing the currency shown in the image (AAVE/USDT) requires examining several financial and technical indicators presented in the chart. I will analyze some of these indicators to provide a comprehensive overview of the currency’s status.

◻️ Based on the aforementioned indicators, the following conclusions can be drawn:

• Selling Pressure: There is continuous selling pressure as indicated by the negative CVD.
• Open Interest: The increase in open interest could indicate growing interest in the currency, whether for buying or selling.
• Buying Preference: The Long/Short ratios suggest a preference among traders for long positions, reflecting positive price expectations.
• Short-term Negative Outlook: The negative Premium Index might indicate negative price expectations in the near future.

◻️ Technical Trends

• Falling Wedge Pattern: There is a falling wedge pattern indicating a potential bullish reversal. If this pattern is broken, the price might rise.
• RSI Indicator: The Relative Strength Index (RSI) shows overbought signals at 97.66, indicating a potential near-term price correction.
• Stochastic RSI: Also shows overbought signals, reinforcing the idea of a price correction.
• MACD Indicator: Shows some hidden bullish signals, which may indicate positive momentum in the future.

◻️ Trading Strategy (Buy Only)

• Entry Point: Consider entering at the first support level of 75.55 USDT, or upon breaking the falling wedge pattern.

• Exit Point (Take Profit):
• First target: 113.10 USDT
• Second target: 123.14 USDT
• Third target: 153.07 USDT
• Fourth target: 153.72 USDT

• Stop Loss:
• Place the stop loss below the second support level at 69.79 USDT. If the price drops to this level, it might be wise to exit to avoid further losses.
$AAVE #US_Inflation_Easing_Alert #VanEck_SOL_ETFS #IntroToCopytrading #ETH_ETFs_Approval_Predictions #MtGoxJulyRepayments
Coin selected by @TB303_L