AEVO/USDT : IdeaAevo/usdt
Looking great for mid-term buy
Expecting 8-10$ in mid-term
Let's see
This is not financial advice do your own research before making any decision
AEVO
Aevo pump soonAevo is very hot dex. This project is backed by big names.
Dydx after launch had 700 mil mcap. Aevo have still 300 mil mcap.
I think Aevo will pump soon to 6-7$.
AEVOUSDT.15MINLooking at this updated 15-minute chart of the AEVO/USDT trading pair, I can observe several technical indicators that could inform my trading strategy.
Trendline Break: Initially, the price was in a downtrend, marked by the downward trendline. However, the price has broken through this trendline, indicating a potential reversal or at least a pause in the downtrend.
Support and Resistance Levels: There are clear support and resistance levels identified on the chart. The support at 2.76 USDT hasn't been retested after the initial drop. Resistance levels are marked at 3.14 USDT (R1), 3.26 USDT (R2), and 3.51 USDT (R3). These will serve as my targets for any bullish price movement, with R1 being my first target for taking profits or reassessing the price action.
Bollinger Bands (BB): The price is currently between the middle band (BB:Basis) and the upper band (BB:Upper), which suggests that the volatility is increasing as the price approaches the upper resistance levels. A move above the upper Bollinger Band can often indicate overbought conditions, but in a strong trend, the price can ride the band for an extended period.
RSI (Relative Strength Index): The RSI value of 56.30- indicates that the market is not yet in overbought or oversold territory, which aligns with my interpretation that there is room for movement either way.
Volume: While volume isn't explicitly shown, the price action and candlestick patterns would be more significant if supported by high volume, indicating stronger conviction behind the moves.
Conclusion:
My trading plan, based on this chart, would be to watch for confirmation of the trend reversal, ideally with an increase in volume. I would consider entering a long position with a close above the trendline, targeting the resistance levels as potential exit points. I would also set a stop loss slightly below the support level at 2.76 USDT to minimize potential losses if the downtrend resumes.
I must keep in mind that all trades carry risk and that this analysis should be complemented with other forms of research and market news. Furthermore, as the market is dynamic, I will be ready to reassess my positions should new patterns or indicators suggest a change in market sentiment.
