Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.The four-hour chart had a bullish outlook and could see Aave surge higher.has see-sawed from $28400 to $27300 over the past 24 hours until press time. The Fed’s policy meeting on 21 and 22 March could see the king of crypto break out of this short-term range.
The past few hours of trading saw a bounce in prices toward the mid-range mark. However, the RSI has not yet broken out past the neutral 50 mark. The DMI also showed a downtrend in motion with both the ADX and the -DI above the 20 mark. Therefore, a shorting opportunity could arise upon a retest of the mid-range level. It would be invalidated upon an H1 session close above $77.2, but some volatility could be present. A stop-loss near $79 can be set, as this would invalidate the bearish idea.
A move above $79 would indicate that the bulls were back in the driver’s seat and could push AAVE toward $82. More risk-averse market participants might want to wait for a rejection from $77.2 before entering short positions.
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