$AAVE RALLYING TO $188 IS ONLY HALF THE BATTLE. HOLDING ONTO THOSE GAINS WILL BE TOUGHER.
On the four-hour chart, the breakout from the pennant has already triggered a powerful surge. The price reached $185–188, but has now pulled back to $160.60. Buyers need to stop looking at the previous rally and start defending the current price.
Reclaiming $170–175 is the first task. If the bulls succeed and hold above that range, the next targets will be $185–190, followed by $195–200.
But losing the $155–150 zone would cast doubt on the continuation of the rally and open the door to a deeper decline.
Until $170 is reclaimed, talk of another surge is premature. The market needs to confirm its strength through price action.
On the four-hour chart, the breakout from the pennant has already triggered a powerful surge. The price reached $185–188, but has now pulled back to $160.60. Buyers need to stop looking at the previous rally and start defending the current price.
Reclaiming $170–175 is the first task. If the bulls succeed and hold above that range, the next targets will be $185–190, followed by $195–200.
But losing the $155–150 zone would cast doubt on the continuation of the rally and open the door to a deeper decline.
Until $170 is reclaimed, talk of another surge is premature. The market needs to confirm its strength through price action.