MEXCAAVE Price Analysis: AAVE Breaks Multi Month Resistance, Will AAVE Break $440 This Time?
- AAVE price has risen over 25% the last week
- AAVE Price has finally cleared multi month resistance
- AAVE Bulls are firmly holding the 100MA
AAVE Price Must Hold $374 Support
AAVE price has finally shown some strength after months of being stuck below the $350 resistance. The overall cryptocurrency market seemed to push higher after news that the scheduled “London” upgrade occurred on the Ethereum blockchain. AAVE is one of the top DeFi coins and has experienced mind blowing gains over the last two years. One can only imagine a similar story to occur once steam is gained throughout the market.
Over the last 6 weeks, AAVE has continuously printed higher lows and higher highs. This is the type of evidence needed for us to assume AAVE price has entered some type of bull trend after months of downtrending. At the time of writing, price has kissed the top trend line of a near 2 month large-scale ascending channel.
This has rejected price two other times and may continue to be the case. For AAVE price to fully clear this trend, price must break & hold the major resistance zone found at $374-$384.
AAVE Price Analysis: AAVE/USDT 4 Hour Live Chart
Just over 12 hours ago, AAVE wicked to its minor support of $344. We can now safely assume this is a short term floor for bulls. In the likely event of a rejection at the top trend of the channel, we can expect prices to sweep back to this value. Below this mark lies the 100MA & a major support zone ranging from $297-$322. The 100MA has been holding prices for over 2 weeks now. Breaking below this mark will trigger a short term downtrend.
- RSI: While looking at the relative strength index, we can see how strength just blasted out of a 2 week bull flag. This allowed price to reach a multi month high. Since the RSI is now overbought, we should expect a pull back soon.
- MACD: The MACD just bounced off the 0 value, refusing to drop into bearish territory. The histogram is now ticking down & a bearish cross on the MA’s will land AAVE price back to its minor support.
AAVE Intraday Analysis
- Spot rate: $369.87
- Trend: Bullish
- Volatility: High
- Support: $344.58
- Resistance: $374.19
- Trump Insider Whale Reloads $430M Long on BTC, ETH Ahead of Tomorrow’s Fed Rate Cut Decision
- Breaking: $2.6B Western Union Announces Plans for Solana-Powered Stablecoin by 2026
- Trump Media Launches Polymarket Rival, Eyes $9B Prediction Market with Crypto.com
- Bitget Lists Common Token, Launchpool Offers 36M COMMON in Rewards
- Coinbase Prime Taps Figment to Boost Institutional Staking on Solana, Cardano, and Sui
- Pi Network Patterns Point to More Gains Despite Manipulation Claims
- HBAR Price Poised to Hit $0.30 as Canary Capital ETF Starts Trading.
- Will Solana Price Rally to $300 as Bitwise Launches $BSOL ETF?
- XRP Price Chart Patterns Hint at 2017-Style Breakout as Evernorth Acquires $1B XRP Ahead of Nasdaq Debut
- Cardano Price Eyes 80% Rally as x402 Upgrade Sparks Hope for AI Payment Expansion
- Polymarket Traders Bet Ethereum Price to Hit $5,000 as Bullish Pattern Forms
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
