Aave reached approximately 82$ after starting ascending since the 5th of November, breaking all previous resistance levels, and aiming to reach ATH again. In this article we are going to discuss Aave's Technical analysis, possible targets, support lines, and resistance. Please remember that this is not a financial advice, please do your own research and trade wisely.

In the chart shown above, on 4hour time frame, you can see clearly the ascending channel Aave respected since the 5th of November, but with the latest mild dip of BTC, most of the prices pulled back. Aave holds 3 strong support lines, around 65$,59$ and 50$. With one resistance level to test again around 79.8$.

Failing to hold the first support line will lead us to range between 59-65$, but being able to pass the resistance level, will lead to the continuation of the uptrend, and the next target calculated based on Elliot's Wave Theory and Fibonnaci Retracement is around 98$.

The current price is 68$, the price is correlated to the trend of Bitcoin. If Bitcoin holds the support lines around 18350$ on 4hour time frame, most probably Bitcoin will go back to 18800$ levels and cause another pump in major coins. Failing to hold will lead to ranging between the support lines mentioned previously.

This was a brief TA about the possible moves of Aave. We would appreciate a like, a comment, and a follow to keep on posting TA.

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Crypto Army