Technical analysis by Blockbullder about Symbol AAVE: Buy recommendation (9/29/2024)

AAVE is looking bullish after breaking out of some key technical patterns. First, we had a large descending wedge, which is a textbook bullish reversal pattern. The breakout from this wedge was followed by a cup and handle formation, another strong bullish signal.Now we’re moving toward some key Fibonacci levels. The 0.382 Fib level at $289 is the first major target, representing an 80% gain from the breakout. Then, we have the 0.5 Fib level at $354, a 118% profit mark, and finally, the 0.618 Fib at $427, which signals a potential 135% gain. If the momentum stays strong, the final stretch would be a test of the all-time high (ATH) near $667, a 300% move from the entry point around $162.AAVE has momentum, but we should watch closely as it approaches these Fib levels, especially the $289 and $354 marks.In summary: AAVE has made a powerful breakout, but keep your eyes on those key Fibonacci levels for potential resistance. Always manage your risk as this could be an exciting, but volatile, ride.Disclaimer: Trading is like surfing—fun, but you might wipe out. This isn’t professional advice—always do your own research and consult a pro before diving in!