CandleFocus AAVE Challenges Trendline Resistance: Is $200 the Next Stop?
2024-10-31
Author: Content Editor
The article discusses the potential for AAVE, a DeFi lending and borrowing protocol, to break through a resistance trendline and rally to the psychological mark of $200. It notes that AAVE has consistently found support around $137 and has experienced multiple bullish reversals. Currently, AAVE is facing resistance at the trendline and the 50% Fibonacci level at $157. However, there are indicators suggesting a potential breakout, such as a golden crossover between the 50 EMA and the 200 EMA. If AAVE can successfully breach the trendline and benefit from a surge in the crypto market, it could reach $200. On the other hand, the recent downturn has tested the $137 support level multiple times.
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