Here’s Why AAVE Price is Rising: Key Levels and Channel Up Pattern Explained

2024-9-22 21:12

Altfins, a platform that allows you to screen, analyze, and trade altcoins, shared an analysis of AAVE’s recent price movement. The token’s price is moving in a defined channel-up pattern, indicating that a price surge is near.

However, this rise is driven by its strong technical indicators, with AAVE breaking above the $100 resistance zone and signaling continued bullish momentum. 

Read Also: Is XRP Price Breakout Finally Here? Key Levels to Watch

AAVE Chart Analysis: Breakout Above Critical Resistance

According to the analysis, the AAVE price broke above the $100-$110 resistance zone, which had previously been a challenging barrier. This breakout signals a strong continuation of the uptrend, setting the stage for further price gains. 

Image Source: Altfins

With the AAVE’s current pattern, its price is expected to continue rising, with a potential target of $175, a key resistance zone. The current short-, medium-, and long-term trends for AAVE all point to a strong upward momentum, making it an attractive option for traders. 

However, the analysis notes a potential stop-loss level of $127, which traders may consider when managing risk.

.rh-colortitlebox{margin-bottom:30px;background:#fff;line-height:24px;font-size:90%}.rh-colortitlebox .rh-colortitle-inbox{display:flex;align-content:center;padding:15px;font-weight:700;font-size:110%; line-height:25px}.rh-colortitlebox .rh-colortitle-inbox i{line-height:25px; margin:0 10px; font-size:23px}.rh-colortitlebox .rh-colortitle-inbox svg{width:25px;margin-right:10px}.rh-colortitlebox .rh-colortitle-inbox-label{flex-grow:1}.rh-colortitlebox .rh-colortitlebox-text{padding:20px}.rh-colortitlebox-text>*{margin-bottom:20px}.rh-colortitlebox-text>:last-child{margin-bottom:0} Celebrate Dogecoin and Make Big Gains with Doge2014!.rh-toggler-open{height:auto !important} .rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important} .rh-toggler-open .rh-tgl-hide{display:block !important} .rh-tgl-show, .rh-tgl-hide{cursor:pointer} .rh-contenttoggler *{box-sizing: border-box !important} .rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;} .rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}

Doge2014 raises 450K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Show more +Show less – Channel Up Pattern in Focus

As AAVE’s price continues to be in the channel-up pattern, a technical structure indicating a series of higher highs and higher lows. This pattern suggests that the price will likely continue fluctuating within the channel’s trendlines.

Moreover, a break above the upper trendline could see the price testing the $175 resistance level shortly, while a drop below the lower trendline might indicate a reversal.

Read Also: Analyst Explains Why Holding Cardano (ADA) Could Become More Profitable Than Ethereum (ETH)

AAVE’s Momentum and Support Levels

Momentum indicators for AAVE remain neutral, with the RSI-14 (Relative Strength Index) showing the token as neither overbought nor oversold. This provides additional confidence to traders, as it suggests there is room for further price movement without immediate concerns of a reversal due to overextension.

Furthermore, AAVE’s nearest support level is set at $130, with the next key level at $118. These levels offer traders key zones to monitor in case of price pullbacks, while the nearest resistance is pegged at $154, followed by $175.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.

The post Here’s Why AAVE Price is Rising: Key Levels and Channel Up Pattern Explained appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price pattern aave recent movement analysis shared

Источник: captainaltcoin.com

price pattern → Результатов: 126


Фото:

Analysts Target a Sub-$200 Move for Ethereum Once it Taps This Crucial Level

Ethereum has been closely tracking Bitcoin’s price action throughout the past several weeks and months The cryptocurrency did recently form an incredibly bearish technical pattern that analysts are still closely watching There’s a strong possibility that the crypto could be positioned to see notable downside in the near-term due to this pattern One analyst is even targeting a movement down to the sub-$200 region This price action could be magnified by a recent surge in […]

2020-6-15 22:00


Litecoin is About to See Exponential Gains Because of This Pattern

Litecoin’s 2020 rally has begun to reach a fever pitch as the crypto shows signs of entering yet another upwards leg that allows LTC to set fresh year-to-date highs. Litecoin’s rally over the past several weeks has allowed it to put significant distance between its recent lows of $50 and its current price of just... The post appeared first on NewsBTC.

2020-2-2 01:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Millionaire Makers: Discover the Best Cryptos Under $1 for Long-Term Growth!

For those looking to delve into the cryptocurrency market without significant initial investment, several promising options under $1 offer potential for substantial long-term gains. BlockDAG is particularly notable, with robust partnerships and a successful presale highlighting its potential as a wise investment.