AAVE broke the downtrend in which it had been since April 21 (see orange transparent diagonal line). The price corrected ~80% since then and we’re currently back in the downtrend regions.

The price is retesting this diagonal and I’m convinced it’ll eventually reclaim it. As there’s plenty of support below it, clarified below.

The price is currently hovering around the .618 (fib measured from the lows in March to the highs in April) A little below that area we have multiple HVNs (high volume nodes) measured with the fRVP tool from the lows in March.

If two HVNs are close to each other, I usually take the midpoint (hence the divide by / 2 in the text). This midpoint is a good approximate to the average support.

The idea is to DCA in from around .618 up to the lower HVN regions around $155.

The invalidation is below the .786 fib retracement. Which is well below the HVNs and a very clear invalidation level.

I added the long tool right to illustrate an example position you could build. Please apply proper risk management before you enter the trade. Calculate exactly what’d you lose if your stop hits. And expect your stop to hit > 50% of the times. This’ll make you a good risk manager. believe me.