AAVE and LINK cryptocurrencies continue to draw the attention of analysts and investors. This article examines the current price levels and possible scenarios for both cryptocurrencies.
AAVE Analysis
The price of AAVE has formed a potential rising wedge pattern. Recently, after breaking below the wedge, the asset found support at $263.5 and rebounded from this high-volume trading zone. The price is expected to possibly retest the upper resistance, potentially facing rejection around the $292 level, which also aligns with the Fibonacci 0.618 level.
If the price reaches this level, it is recommended to observe the price reaction and look for opportunities to enter a short position. Entry points can be selected at Fibonacci levels 0.618, 0.5, or 0.382, corresponding to $292, $300, or $308. Take-profit levels can be staged at $243, $227, and $220, with the stop-loss determined based on individual risk tolerance, with a maximum at $309.
LINK Analysis
LINK's price has been in an ascending channel for over a year. Recently breaking above the trendline, the asset encountered resistance at $20.28 and pulled back. It is anticipated that the price may test the support level below, and investors should monitor the high-volume trading zone around $14.
Take-profit levels may be set in stages at $23, $24.5, and $26.5, with the stop-loss based on individual risk tolerance, with the minimum set at $12.6.
Conclusions
Both assets, AAVE and LINK, exhibit interesting price patterns that could offer trading opportunities for both short-term and long-term strategies. Investors should closely watch support and resistance levels to adjust their strategies based on further market movements.
The analysis of the current situation for AAVE and LINK cryptocurrencies highlights the importance of a careful trading approach and understanding of technical levels.
