AAVE Macro outlook, weekly bullish divergenceA price range between $440 and $130 continues. Price appears to have completed triangle wave (c) of a larger wave B. Wave (D) is next, with a target of the upper boundary trend-line ~$340.
Price has lost the 200EMA but followed the outlined path of a pump and pullback after wave ©. The weekly pivot is the likely termination point for wave (E), but there is work to be done first. Price found terminal support at the golden pocket Fibonacci retracement.
We are just in a huge range, and there isn’t much more to say on the macro. This asset has been one of the best winners for trading the last 3 years, sticking to the rules strictly.
🎯 Terminal target for the business cycle is still the 1:1 Fib extension, but may be overextended to the 1.272, per wave C rules. Both are around the all-time High Volume Node ~$600
📈 Weekly RSI has room to fall and has printed bullish divergence.
👉 Analysis is invalidated below wave (A) or wave (B)
Safe trading
