💥💥💥 $AAVE Soars 21% To Hit 2-Year High, $182 Target in Sight
As the broader market recovers, despite Bitcoin's slight dip following the Presidential debate, #DefiTokens are experiencing a strong surge. AAVE from the Ethereum ecosystem has hit a 2-year high, showing promising growth alongside other tokens. Here's a closer look at AAVE's price action and potential target levels.
AAVE's Breakout Rally
- AAVE has surged 10.21% in the past 24 hours, reclaiming the key $150 mark. With a market cap of $2.25 billion, AAVE is currently trading at $150.97.
- The daily chart shows a strong trend reversal, with consecutive bullish candles. Notably, AAVE has broken out of a large cup-and-handle pattern, with a neckline at $142.69, which aligns with the 100% Fibonacci retracement level.
AAVE Price Chart
- AAVE recently formed a morning star pattern near the 20-day EMA, triggering bullish momentum. Over the past few days, the token has risen by 21.07%, with two significant bullish engulfing candles. AAVE is now in its fourth consecutive day of gains, with an intraday increase of 0.30%.
Target Levels for AAVE
- As bullish momentum builds, the #MACD indicator has confirmed a bullish crossover, and the 20, 50, 100, and 200 EMAs show a positive alignment, further supporting the uptrend.
- The next resistance levels for AAVE are the 1.272 and 1.618 Fibonacci levels, which correspond to $160.19 and $182.45, respectively. While a minor retest of the $142 breakout level (100% Fibonacci) is possible, the cup-and-handle breakout suggests AAVE could aim to surpass the $200 psychological barrier in the near future.
Source - thecryptobasic.com
