AAVE in price discovery - LONG OPPORTUNITY

4 feb 2021

AAVE is a relatively new coin with solid fundamentals. With it being so new their isn’t much historical data so we will have to rely on fib levels for a reliable entry and exit point. The Stock RSI is saying it is overbought, but the big volume spike is confirming that this move is legitimate. If you don’t already have a position, I would wait to buy in between the 1 and the .786 fib levels. I don’t think we will see it drop to the .786 so when the RSI comes down below 40 I would enter there.

Entry - $400
SL - $362
T1 - $540 (R/R - 3.38 )
T2 - $590 (R/R - 4.64 )