AAVEUSD AAVE is moving along nicely through its cycle and events. Rhyming very well with Wyckoff Distribution schematic. Since it's buying climax it has dipped to print an AR (Automatic Rally) and is now printing in a ST (Secondary Test) zone.
A shooting star through the 0.786 printed earlier this month; a major clue that this area is exhausted and may be ready for a retracement to the down side. Currently there is a SRP (Shake-out Reversal Pattern) printing before making it's next HTF move.
A "come-back" can be expected with this asset to later print a UT/UTAD (slightly higher high); considering its strength.
The lower demand line may prove to be adequate support. Or, even perhaps the 1:0.618 window.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.