The post AAVE with a Bullish Channel Pattern Eyes To Hit $300 This Month? appeared first on Coinpedia Fintech News
Story Highlights
- The AAVE token jumps 11 positions with an intraday surge of ~10%.
- The technical sentiments experience a constant uptrend, suggesting a higher price target.
- This altcoin is currently trading at a 31-month high.
With a strong bullish recovery over the past few weeks, the AAVE price has now recorded a 2X surge this year. Moreover, with a market cap of $3.34 billion, this altcoin is currently trading at a discount of 66.46% from its ATH of $666.86.
With a potential Altcoin season around the corner, will this altcoin regain its lost value and head toward a new all-time high this crypto bull run? Dive in as, in this article, we have uncovered the short-term price prospects.
AAVE Price Forms Rising Channel Pattern!
The AAVE price has added 8.96% to its portfolio in 24 hours, with a trading volume of $743.86 million. Moreover, it has surged ~23% over the last seven days and 61.57% during November.
The Simple Moving Average (SMA) constantly supports the AAVE price chart in the 1D time frame, suggesting a strong buying-over-selling pressure for this altcoin in the crypto space.
The Relative Strength Index (RSI) is on the verge of breaching the overbought range, with its average trendline recording a constant uptrend. This highlights that the 41st largest crypto token may continue gaining value this week.
Will AAVE Price Hit $300 In 2024?
If the bulls maintain the AAVE coin price above its support level of $220, it may prepare to retest its resistance level of $250. Moreover, if the bullish sentiment intensifies, this could push the price of this altcoin toward its upper price target of $280 this month.
On the contrary, if an uncertain event occurs, this could result in the crypto market experiencing a significant price correction. With this, the AAVE price could plunge below its $190 level and retest its support trendline of the channel pattern.
Will AAVE price hit $1,000 this AltSeason? Read our AAVE Price Prediction article to find out the potential targets. Also, subscribe to us to stay updated on the latest happening in the crypto-verse!
FAQs
With an intraday surge of 9.89%, this altcoin is currently valued at $222.72.
If the bullish sentiment sustains, it may reach a high of $230 in 2025.
With increased adoption and fundamental updates, this altcoin may achieve a high of $812.56.
