AAVEUSD: Overbought but can do one last spike

AAVEUSD got overbought on the 1D timeframe (RSI = 70.408, MACD = 2.580, ADX = 34.530) after the strongest two day rise of the current Bull market. The pattern is a Channel Up, which has long turned the 1W MA50 into Support and despite the overbought technicals, it can extend up to 1W MA200, which is the last Resistance remaining and the level that rejected the crypto on August 8th 2022 and May 30th 2022. As a result we will remain bullish up to 140.00 and then buy as it approaches the 1W MA50 near the 0.236 Fibonacci level. That buy's target will be the 0.618 Fibonacci (TP = 240.00).

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