đ AAVE/USDT SIGNAL đŻ
đ° 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 currencyâs status.
âťď¸ 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.
âťď¸ 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.
âťď¸ 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.
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Coin selected by @TB303_L