AAVE Set for a Bullish Breakout : Targeting $200 and Beyond

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Summary & Analysis :

AAVE is currently forming a **cup and handle pattern** on the weekly timeframe, a formation known for its strong bullish implications. This technical pattern suggests a period of consolidation followed by a potential breakout. If the breakout occurs, AAVE’s price is projected to soar to **$243** in the new year, supported by the AB=CD pattern, which indicates a continuation of the bullish trend.

Key Insights :

- Current Formation : The cup and handle pattern indicates a significant bullish reversal, making AAVE a coin to watch closely.

- Potential Price Target : AAVE could achieve a price level of **$200**, with an optimistic forecast reaching **$243** post-breakout.

- Technical Indicators : The alignment with the AB=CD pattern further strengthens the likelihood of this upward movement.

Conclusion & Advice :

AAVE's technical indicators suggest a promising trajectory towards **$200**, with a possible extension to **$243** if a breakout materializes.

Traders should remain vigilant for a confirmation of the breakout, as this could serve as a solid entry point. It’s advisable to consider implementing stop-loss orders to mitigate risks while taking advantage of potential upside in this bullish setup.

Keep an eye on market conditions and volume trends to ensure informed trading decisions.