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Following the future outlook for the #AAVEUSDT digital currency on the four-hour timeframe
Has the correction ended? 🤔
👉 As we indicated in the previous analysis, it was expected that the decline would continue through the subwaves of wave (j) of wave (2)/(b), which formed an zigzag pattern. This movement pushed the price toward a potential rebound zone ⚡️.
✨ Therefore, we anticipate a breakout 🚀 above a key level, in addition to breaking the upper boundary of the price channel, to confirm the bullish outlook through the subwaves of wave (3)/(j) 📈.
💫 What supports this outlook:
* The price channel containing the corrective wave.
* The price reaching potential reversal zones ⚡️.
Additionally, it is important to note that there is an alternative scenario suggesting that the 103.28 level may serve as a potential reversal point, as it coincides with a 100% Fibonacci correction of wave (a) and the lower boundary of the price channel 🛑.
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**Further analysis**:
The price has approached the upper boundary of the channel, and the momentum indicators suggest increasing buying pressure. If the price manages to break above the 103.28 level, it could signal a strong bullish move, confirming the continuation of the upward trend.
Conversely, if the price fails to break this resistance and reverses, it may retest the lower support levels within the channel, possibly leading to a correction or consolidation phase.
In summary, traders should watch for a confirmed breakout above the key resistance at 103.28, supported by volume and momentum, to validate the bullish scenario. Otherwise, caution is advised for potential reversals or sideways movement.