AAVE - where will we when this resistance is cleared?

AAVEUSD hit an expected area of resistance in the 120-128 range. The thicker blue line is the volume weighted average price anchored to the October 2021 high. This AVWAP has been strong resistance ever since and this week has seen the first retest of this level since the end of 2023.

https://www.tradingview.com/x/3WC22iyz/

If price is going to continue higher I'd look for price to break above 128 and then retest it as support. The next likely area for heavy resistance should be the thicker green VWAP anchored to the all time high. This is trending toward the mid to high 150's, which aligns to a fib confluence zone in the range of ~146-155.

Two options for entries with favorable risk reward are:

• Pullback to support of $114, initial profit ~138, stop ~108. R:R = 3.5:1
  
• After a break above ~129 enter on a retest, initial profit ~153, stop ~124. R:R 4.3:1
  

I don't plan to fully exit after profits as a cycle high could revisit 230-255.