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
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