Yesterday's Market Review
From the four-hour candlestick chart of AAVE, bullish momentum dominated the market yesterday. The price continued to rise from the $360 area, hitting a high of $396.23 during the session and then slightly corrected, finally closing at $385.82. The moving average system showed an obvious bullish arrangement, especially the 7-day moving average (MA7), which strongly supported the price, indicating that bulls dominated. However, the high-level candlesticks showed long upper shadows, indicating that the selling pressure from above was gradually increasing, and the long-short game may intensify in the short term.
Analysis of today's key technical indicators
Moving Average System (MA)
MA7 ($270.28): Strong short-term support, with prices consistently above it, indicating sustained bullish momentum in the short term.
MA30 ($270.78): As a medium-term trend line, it continues to rise, providing solid support.
MA100 ($223.68): Long-term support remains solid but is far from the current price, having little impact on the short term.
MACD indicator
The MACD histogram shows that the red bars are continuously shortening, indicating weakened bullish momentum, and a pullback or sideways consolidation may occur in the short term.
The DIF and DEA dual lines are close but still above the 0 axis, indicating that the overall market remains bullish.
Bollinger Bands
The current price is close to the upper track of the Bollinger Bands ($396.23), with significant resistance above.
The middle track is near $365, which is an important support area for today's pullback.
Volume analysis
The trading volume significantly increased when the price surged yesterday, indicating concentrated entry of bullish funds.
Today's early trading volume has decreased, indicating a weakened willingness to chase higher prices, and short-term pullback risks should be guarded against.
Today's operational advice and point setting
Short selling strategy (short-term high-level pullback)
Entry range: $390-$395
Take profit target 1: $375
Take profit target 2: $365
Stop-loss level: $400
Logic: Yesterday's price touched the upper track and then pulled back, indicating significant resistance above. If it tests the $390-$395 range again today without breaking through, one can attempt a light short position, targeting near the middle track.
Long position strategy (buy on pullback)
Entry range: $365-$370
Take profit target 1: $385
Take profit target 2: $395
Stop-loss level: $360
Logic: The middle track of the Bollinger Bands ($365) is an important support level. If the price pulls back to this area and stabilizes, one can attempt to set up a long position, targeting near yesterday's high point.
Summary and risk warning
AAVE's performance today is expected to mainly fluctuate and consolidate, with high-level pullbacks being the primary risk, but the overall bullish trend remains unchanged. Short-term operations need to closely monitor the two key points at $365 and $396.
Support levels below: $365, $350
Resistance levels above: $396, $405
It is recommended to test with light positions, strictly implement stop-loss strategies, and avoid chasing highs or blindly bottom-fishing in a volatile market. Pay attention to changes in trading volume and MACD indicator turning points to capture clearer trend signals.
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