Technical Analysis ($AAVE
/USDT
Current Price: $344.83
24h Change: +6.37%
24h High: $362.29
24h Low: $318.74
Key Levels:
1. Support: $318.74 (Strong support near the 24-hour low)
2. Resistance: $362.29 (Recent 24-hour high and key resistance zone)
3. Key Fibonacci Retracement: $335 (Retracement level to watch for price stabilization)
Trade Signal:
Momentum: Bullish, with a +6.37% move in the last 24 hours indicating upward momentum.
Trade Setup: A break above the resistance at $362.29 could open the door for further gains.
Target Levels (3-Tier Setup):
Target 1: $350 — If the price continues to rise, $350 is the first target to reach as it represents a potential short-term resistance zone.
Target 2: $358 — If the momentum holds strong, $358 is the next resistance level that aligns with prior highs.
Target 3: $365 — A breakout beyond $362.29 could extend towards $365, with potential for further upward movement.
Risk Management:
Stop-Loss: A protective stop at $318.74 (below the 24h low) could help limit potential losses in case of a downward reversal.