Graphic Analysis and Detailed Comments
1. Target and Prices:
• The chart shows that the AAVE/USDT pair broke a long-term downtrend line. After this breakout, target areas were determined according to previous resistance levels.
• The first main target is the area around 250-300 USD. The 400-500 USD band has been indicated as an upper target.
2. Support and Resistance Levels:
• Support: The 150 USD level appears as immediate support. Below this, 130 USD forms a strong support.
• Resistance: The broken trend line has turned from resistance to support. In upward movements, the first resistance is around 200 USD.
3. Indicators:
• There is no obvious indicator analysis on the chart, but it can be assumed that this upward trend movement is supported by the increase in volume.
• The RSI (Relative Strength Index) may have probably approached the overbought region.
4. Formation and Formation Reversals:
• There is a breakout of a long-term falling trend line. This usually signals the start of an uptrend.
• Previous peaks (marked with circles) were tested and overcome in order, indicating a strong trend reversal.
5. Trend Direction:
• The medium-long term trend is clearly upward. It is important not to close below the support levels in order to maintain the trend direction.
6. Strategic:
• Buying Strategy: Since 150-160 USD levels are strong support in declines, these areas may offer buying opportunities.
• Take Profit: The initial target is 250 USD, and in the longer term, 400 USD levels can be evaluated.
• Stop-Loss: Daily closings below 130 USD can be seen as a risky area.
7. Conclusion and Recommendations:
• The trend continues strongly upward.
• Risk control should be provided with a stop-loss strategy.
• Profit realization can be made in overbought areas by monitoring volume and indicators.
This analysis provides a positive outlook for those considering long-term investments, but caution should be exercised against market volatility.