AAVE/USDT : Weekly Chart Analysis - Road to $840?
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Overview :
AAVE/USDT shows a bullish setup with critical support and resistance levels guiding potential price movements. The chart suggests possible accumulation zones and key targets for a significant upward move.
Key Support Levels :
Support 1 : $175–$190
A high-volume Area of Interest (AoI) below the current price. A likely accumulation zone during corrections.
Support 2 : $135–$150
A deeper level important for preserving the long-term bullish structure.
Support 3 : $105–$110
A crucial historical accumulation range from 2023, ideal for long-term entries.
Key Resistance Levels :
Resistance 1 : $275–$280
Currently being tested. A breakout here signals bullish confirmation.
Resistance 2 : $365–$380
Located near the 0.382 Fibonacci level, serving as an intermediate target.
Resistance 3 : $840–$1,000
A major psychological level that could attract traders, representing the main bullish target.
Price Movement Scenarios :
Bullish :
Breaking $275 with strong volume could lead to $365 and eventually $840–$1,000.
Bearish :
Failure to break $275 may trigger corrections to $175 or lower. These dips are excellent accumulation opportunities.
Indicators to Monitor :
Volume : High volume confirms trend momentum.
RSI/MACD : Use these for trend validation before entering trades.
Pro-Tip for Traders :
Adopt strong risk management with stop-losses below $175 for short-term trades. For long-term accumulation, focus on the $135–$150 zone.
Conclusion :
AAVE’s price action shows a structured pathway for growth. Watch $275 closely as a breakout here could open doors to significant gains. Corrections, however, remain prime accumulation zones for long-term investors.