AAVE price analysis: What will be the next move for the star altcoin?
AAVE has been following a horizontal course with very little price action for the last 3 months and is almost asleep. The bulls managed to break out of this trading range as Ethereum continued to climb to an all-time high. After increasing about 600% in 2021, his next move is wondering.
As AAVE broke and retained the key $ 428 S / R zone, its price soared for a potential violation of ATH. The price also managed to break a three-month upper trend line that kept price pressure low. If AAVE continues to hold these two key levels, we can expect prices to reach the $ 525 + level.
AAVE shows an inverted head and shoulders pattern on the daily chart. This chart broke the $ 428 neckline. If the AAVE fails to keep the neckline, there is a danger that the price will drop to 100MA. It can also be trusted that the support range will start a bounce if this level does not hold.
Looking at the RSI, we can conclude that the strength is below a resistance line of about 62. Power has managed to break this key level and is trying to keep it. This is interpreted as a bullish signal for the AAVE price. The stochastic RSI has also risen to overbought levels, as long as that strength stays above the overbought line, AAVE ATH is in a good bullish position to try.
- AAVE intraday levels
- Spot price: $ 500
- Trend: Bull
- Volatility: High
- Support: $ 466
- Resistance: $ 523