AAVEUSDT ! Pre-breakout set-up. What happens next?

٦ أغسطس ٢٠٢٢

AAVEUSDT is trading in an uptrend. The price is in a channel and bumping into a local resistance zone above the 103.6 level. On the chart we can see that the price has stuck to this zone and is forming a pre-break consolidation.

I assume that if the price continues to form a pattern of price squeezing to the level of 103.6, then there are all chances to see a breakdown of this zone. In the short term it makes sense to expect the growth of the price to the liquidity zone 118.4, and from the zone I suppose, that the pullback is possible.

Regards R.Linda!