Aave's Breakout Push and Potential Price Surge
Deep reduction in AAVE price potential due to these reasons...
Gearing up for a bullish run on AAVE? Here's the skinny!
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In a surprising turn of events, Aave (AAVE) has shattered its crucial resistance at $280. Don't think that's all, mate! Expect the price to take a dive towards $240 in the upcoming week.
Last week, Bitcoin's (BTC) price rejection at $110k saw AAVE's recent gains getting chopped off. But fear not! The altcoin's bullish momentum still seems intact, and drops to $260 and $240 aren't out of the question.
Bullish tendencies hint at long-term optimism
TradingView – AAVE/USDT
The weekly chart reveals a rollercoaster ride last November, followed by a sharp decline in Q1 2025. The steep downtrend pushed AAVE's price back down to the $125 low—not a great look for long-term investors. However, the weekly chart suggests a potential range formation between $125 and $380-$400 in the following months. The mid-point at $262 has functioned as a key resistance over the past month.
The altcoin gained momentum and broke out cleanly earlier this week, skyrocketing from $253 on Monday to $325 on Wednesday, a 28% surge, before plunging to $275 at week's end. Wanna see some real optimism? A weekly session close above $280 could signal a promising week ahead. The On-Balance Volume (OBV) has been on an upward trend since April, which is a positive sign for AAVE bulls.
TradingView – AAVE/USDT
The range formation (in white) is more apparent on the 1-day chart, spanning from $240 to $280, with the $260 mid-point support getting retested on Friday. The breakout during Monday and Tuesday transformed into a retracement back into the range. The trading volume has been exceptionally high, and the falling price might suggest heavy selling volume and bearish dominance—a theory backed by the OBV's indicator, which created new lows compared to the past three weeks.
Still, the structuring of AAVE remains bearish, but the 20 and 50 Daily Moving averages indicate bullish momentum, acting as potential support levels upon retest, especially the 50 DMA. In short, keep an eye out for a drop to $240 to load up on more AAVE. The confluence of the lower range extreme and the 50 DMA should thwart the bearish attempts and keep the downtrend at bay.
Disclaimer: The information provided doesn't represent financial, investment, trading, or any other sort of advice. It's all the writer's personal opinion!
Follow us for daily news you can't miss!Predictions hint at an end to SHIB's bearish run close to $0.0000114!Brace yourself for Dogecoin's volatility on the road to recovery!**
- Despite the recent dip in Aave's price towards $240, the altcoin's bullish momentum seems intact, with a potential range formation between $125 and $380-$400 in the following months.
- The breakout of Dogecoin's price, particularly close to $0.0000114, may signal an end to its bearish run.
- Bitcoin's (BTC) technology remains a key driver in the finance sector, influencing potential price predictions for altcoins like Aave and Dogecoin.
- Investors should keep an eye on the price of cryptocurrencies like Aave and Dogecoin, as technological advancements in the crypto and finance sectors could potentially impact their prices.
