What Does AAVE Price Structure Signify on the Chart

Aug 20

In the past 24 hours, as of writing, AAVE pierced 14% higher in intraday. The boost has led to cracking the long-served range's upper border of $115. As of writing, it had traded at $129.05.

The AAVE price thrust has beaten the dynamic hurdles of 50-day and 200-day EMA bands. AAVE's past 7 days’ gains of more than 36% from the $90 support and coinciding trendline support have impressed investors.

Overall, in the broader picture, the shown movement in the $80 to $120 range in the past 12 months has been broken, and sustenance above could extend gains.



In the bullish case, the short-term rise could lead towards the upper boundary; recently, AAVE has delighted traders and cruisers in the asset after the displayed momentum. Likewise, the sustenance above the range border could shoot to capture the $134.01 and $145.01 price targets.

On the contrary, failing to sustain above the range's upper border or Dipping below $115 would mean a fall. Where bears could eye for $108, and $98, respectively.

Meanwhile, the MACD has formed a bullish cross above the zero line with a histogram positive at 2.51. The RSI was above the median line at 70.88, which is an overbought entrance, which could be a point of suppression in gains.