AAVEUSDT (-18.06%)
Current Price @268.5
- Price is below the 100 moving average, but it is above the 20 and 50 moving average. It means its about to create a rally. If it continue to move up and pierces 100 ma, we can see a new bullish cycle. The best time to enter will be upon the break of its trendline resistance around 291-295 area. If it fall and do correction key area to catch will be 236 and 218.
-RSI is above 50 showing us signs buying as well added confirmation of a rally
-NO divergences in play
- Recommendation: You could add more in the key levels mentioned. If you have existing shares at lower average cost, adding more is the play, however if you are in a losing trade, make sure the take profit area will be your way out plan(sell all)as part of the cleaning of the port process. if you plan to take profit, target is at 350 and 416 . If you plan to cut your losses make sure it's 1-2% of your capital if you're trading short term and 5-10% if you're invested long term.
- Added to watchlist.
DISCLAIMER! This is not a recommendation per se, I am no expert this is just based on my personal analysis. Trade at your own risk,
