Aave

Convergence

Bitcoin

<img width="1200" height="642" src="https://coingape.com/wp-content/uploads/2023/11/ydL1NIKN-e1699271028916.png" class="attachment-full size-full wp-post-image" alt="AAVE price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Aave Price Prediction: The AAVE token shifted gears into a vigorous recovery phase when the price rebounded from the $61 level in late October. Within three weeks, the token has experienced a remarkable ascent of 56.36% which reached the current trading value of $96.8. This robust upward trajectory has been accompanied by an escape from a 16-month chart pattern, signaling a potential trend reversal. 
Also Read: <a href="https://coingape.com/bitcoin-btc-price-consolidates-as-analyst-predicts-next-stop/">Bitcoin (BTC) Price Consolidates as Analyst Predicts Next Stop</a> 
<h2 id="b-is-aave-heading-to-the-100-mark-b">Is AAVE Heading to the $100 Mark?</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The overhead supply at the $100 barrier could trigger a minus pullback in the Aave price.</li> 
 <li style="font-weight: 400;" aria-level="1">The 20 EMA slope around the $83 mark offers additional support for buyers.</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in AAVE is $213.8 Million, indicating a 64% gain</li> 
</ul> 
<img decoding="async" class="alignnone" src="https://s3.tradingview.com/snapshots/y/ydL1NIKN.png" alt="Aave Price Prediction" width="1946" height="1041">Source- Tradingview 
The recovery trajectory for AAVE price encountered resistance at the $100-$98 zone. Efforts to breach the $100 level were met with prompt selling pressure, reflecting a degree of market hesitation that became particularly pronounced when this DeFi platform halted <a href="https://coingape.com/aave-suspends-ethereum-and-v3-markets-amid-feature-issue/">several of its markets</a> on November 4 after receiving reports of an issue linked to a specific feature, as announced in a statement on X, the platform formerly known as Twitter. 
<blockquote>
 However, as the altcoin market has recently witnessed a surge in buying pressure, the <a href="https://coingape.com/price/aave/">AAVE price</a> too jumped 8% to rechallenge the aforementioned $98-$100 resistance level. A potential breakout above this barrier would intensify the buying momentum and bolster buyers to extend bullish trends.&nbsp;
</blockquote> 
Under the influence of the recently completed descending triangle pattern, the ongoing rally will likely reach the $124 mark, registering a potential growth of 28.5%. 
<h2 id="b-key-levels-to-watch-b">Key Levels to Watch</h2> 
Despite the optimistic tone, the significant resistance at $100 could incite a modest retracement. Notably, previous pullbacks during the two-month rally in AAVE did not exceed the 38.2% or 50% Fibonacci retracement levels. Thus, if a pullback occurs the buyers can find robust support zones at $83.1 and $77.2. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Moving Average Convergence Divergence: The notable separation between the <a href="https://coingape.com/bitcoin-btc-price-consolidates-as-analyst-predicts-next-stop/">MACD</a> line and the signal line within a bullish crossover context underscores a bullish momentum intact.</li> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: A positive crossover of the 100 and 200-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a> gives an additional boost to market buyers.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/aave-price-prediction-can-aave-recovery-sustain-100/">Aave Price Prediction: Can $AAVE Recovery Sustain $100 Breakout?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Aave Price Prediction: Can $AAVE Recovery Sustain $100 Breakout?

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