Bitcoin

In a bearish crypto market where many altcoins are struggling to stay bullish and facing intense corrections, AAVE is showing signs of a strong recovery after a recent dip. AAVE seems ready for a breakout and could potentially reach the $150 mark.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/397cf82e923e4acdb0413bd184651b56.png" />However, it’s uncertain if this uptrend will withstand the broader market’s correction or if AAVE will drop below $100. With today’s growth suggesting a bullish reversal, AAVE aims for $150 this month. Let’s examine our AAVE price analysis to see if a 50% bull run is possible.<h3 id="aave-price-analysis-bullish-reversal-and-potential-breakout">AAVE Price Analysis: Bullish Reversal and Potential Breakout</h3>In the 1D chart, AAVE’s price trend shows a bullish cycle starting from $78, accounting for a 38% surge in the last four weeks. With a higher low formation, AAVE has reclaimed the psychological mark of $100 and the previous peak at $108.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/373789269e354123b54036ecfb0621f5.png" />1day chart aave price_TradingViewAfter concluding a sideways shift following a 35% drop in April, the ongoing recovery indicates a consolidation range breakout. By surpassing the overhead ceiling at $110, AAVE <a href="https://cryptosheadlines.com/bitcoin-price-prediction-big-drop-confirmed-next-target-56000/" rel="noopener noreferrer nofollow">confirmed its bullish break with an overnight drop</a> of 5.45%. Currently, AAVE trades at $112.48, with buyers making a comeback, signaling a post-retest reversal.The <a href="https://cryptosheadlines.com/litecoins-rsi-signals-bullish-trend/" rel="noopener noreferrer nofollow">bullish trend is supported by rising MACD and signal</a> lines with positive histograms, bolstering the chances of an uptrend. Additionally, the daily RSI line nearing the overbought boundary reflects a similar possibility.According to Fibonacci retracement levels, the <a href="https://cryptosheadlines.com/render-rndr-price-breakout-suggests-potential-50-upside/" rel="noopener noreferrer nofollow">50% Fibonacci breakout suggests a potential</a> bull run towards the 100% Fib level at $142. Optimistically, a push from a broader market recovery could drive the AAVE price beyond $150.<h3 id="aave-price-forecast-elliot-waves-and-potential-targets">AAVE Price Forecast: Elliot Waves and Potential Targets</h3>According to the Elliot Waves in the 4H chart, the impulse wave in AAVE completes at $116 and enters an ABC correction wave. Currently, the ABC pattern suggests a possible retest of the crucial $100 psychological mark.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/171637e3d1b84f34a8f4694b597ecbcb.png" />AAVE Price Chart_TradingView<a href="https://cryptosheadlines.com/will-optimisms-bullrun-push-op-to-5-insights-on-upcoming-crypto-presales/" rel="noopener noreferrer nofollow">Also Read: Will Optimism&#39;s Bullrun Push OP to $5? Insights on Upcoming Crypto Presales</a>However, if supply pressure increases, AAVE’s market price could drop below $100, finding support at $95 or $90. On a positive note, the trend-based Fibonacci level in the 4H chart indicates a potential target of $149.79 at the 1.618 level.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>

AAVE Targets $150 Amid Market Correction: Will the Bull Run Last?

Table of Contents

cmcdelete@edb8d1ee4ec9a85c04690131b307c085

Other articles published on Aug 4, 2024

Islamic State Demands Sharia Law-Compliant Crypto For Funding Terror Activities

Crypto Analyst Releases Outlook For PEPE, Ethereum, And XRP, Here Are The Targets

Next Cryptocurrency to Explode Sunday, August 4 — TRON, OKB, Casper Network, UNUS SED LEO

Microsoft Invests in OpenAI

XEM Token Demand Rises: Could It Reach $0.03 This Week?

Ethereum Price Prediction amidst a Bitcoin Price Crash...SELL ETH?

Join our free newsletter for daily crypto updates!