CandleFocus AAVE Stalls at Key Resistance: Will Bulls Break $400 or Will Bears Take Control?
2024-12-27
Author: Content Editor
The price of AAVE is currently struggling to gain traction and face rejection near resistance levels. Bearish candlestick formations and a 1% price drop indicate selling pressure. Bulls must push the price above $400 soon to prevent bears from taking control. There are potential support levels at $290, $265, $240, and $220. The Ichimoku Cloud indicator highlights strong support at $263.86 and $290.68. A lower low may occur if Bitcoin dumps as expected. Traders should watch these support levels for buying opportunities. The current price action shows indecision and consolidation near resistance zones. Without a push above $400, AAVE risks a deeper correction, but a potential rebound could lead to a $500 surge. Overall, AAVE is in a transitional phase between bearish retracements and bullish momentum, facing resistance and selling pressure.
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