CandleFocus AAVE Soars 21% To Hit 2-Year High, $182 Target in Sight
2024-09-11
Author: Content Editor
The cryptocurrency token AAVE has experienced a breakout rally, reaching a two-year high of $150 and showing potential for a bull run towards the $182 milestone. Despite a slight dip in Bitcoin due to the Presidential debate, the broader market recovery and increasing demand for DeFi tokens have contributed to AAVE's rise. The token's price action analysis reveals a cup and handle pattern breakout, with a neckline at $142.69 coinciding with the 100% Fibonacci level. AAVE's bullish momentum is supported by the MACD indicator and positive alignment of EMAs 20, 50, 100, and 200. The next resistance levels for AAVE are projected at $160.19 and $182.45, with the possibility of a minor retest at the $142 breakout level. There is optimism that AAVE has the potential to surpass the $200 mark.
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