Aave [old]

Lido DAO

Date: Thu, Nov 07, 2024, 12:25 PM GMTAs Bitcoin (BTC) hits a new all-time high of $76,000 following Donald Trump’s election victory and his public support for cryptocurrencies, bullish momentum has surged across the crypto market. This positive sentiment has led to rallies in several major <a href="https://coinsprobe.com/ethena-ena-gains-bullish-momentum-could-the-next-breakout-push-it-100-higher/" rel="noopener noreferrer nofollow">altcoins</a>, particularly in decentralized autonomous organization (DAO) tokens like Aave (AAVE) and Lido DAO (LDO).<img src="https://academy-public.coinmarketcap.com/optimized-uploads/ab74010154b045529fd5782e4ba80e93.png" />Source: CoinmarketcapThese two tokens have experienced significant price jumps, breaking critical resistance levels and signaling potential for further gains.<h2 id="header-0">Aave (AAVE)</h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/ac84057e1f16443281a26454c5675390.png" /><ul><li>Current Price: $185.81</li><li>Key Breakout Level: $154.00</li><li>Next Resistance: $198.00</li></ul>Aave’s recent price action shows a strong breakout above the $154 resistance, which was a crucial level within a descending wedge pattern. This pattern often indicates potential for a reversal, and Aave’s successful breakout signals a shift in trend. The move has driven AAVE above $185, positioning it to potentially test the $198 resistance level next. A breakout beyond $198 could signal further bullish momentum, opening the path for the token to approach higher resistance zones.<h2 id="header-1">Lido DAO (LDO)</h2><img src="https://academy-public.coinmarketcap.com/optimized-uploads/1795c6bba8d743348af04ddbb6951b08.png" /><ul><li>Current Price: $1.33</li><li>Key Breakout Level: $1.19</li><li>Immediate Resistance Zone: $1.30 to $1.38</li><li>Next Potential Targets: $1.60 and $1.94</li></ul>Lido DAO’s token has similarly broken above a critical level, with $1.19 serving as the breakout point within a descending channel. LDO’s price is now hovering at the next resistance zone around $1.33 to $1.38. Should LDO manage to break decisively above $1.38, it could target further resistance at $1.60 and potentially $1.94, marking a substantial 45% upside from current levels.<h2 id="header-2">What’s Ahead?</h2>Both AAVE and LDO have entered bullish territory, breaking out from long-standing downtrends. This, combined with favorable macro sentiment following Bitcoin’s new high, suggests these DAO tokens could continue their upward trajectories in the near term. However, traders should watch for potential consolidation or pullbacks as tokens approach resistance levels, especially given the current high RSI readings. These periods can offer additional buying opportunities on retests.As always, do your own research and approach trades with caution. While these breakouts signal positive sentiment, volatility in the crypto market remains high, especially in altcoins.Also Read:<a href="https://coinsprobe.com/0g-ai-node-sale-on-fjord-decentralised-capital-formation-meets-decentralised-ai/" rel="noopener noreferrer nofollow"> 0G.AI Node Sale on Fjord: Decentralised Capital Formation Meets Decentralised AI.</a>

Top DAO Tokens AAVE and LDO Surging Higher Following Key Breakouts: What's Ahead?

Table of Contents

CoinsProbe

Other articles published on Nov 7, 2024

Rekt Raises $1.5M Seed Round Backed by Angels and Community, Following Sell-Out Success of Rekt D...

Introducing the 7th Edition of the FiNext Awards & Conference February 10-11, 2025, in Dubai

Will Gensler's Potential Dismissal Spark XRP to New Heights?

Solana Makes 401% Year-To-Date Gains As Cutoshi Looks To Boost ETH

Wintermute Pushes for Ethena Fee Switch to Benefit sENA Token Holders

French bettor wins $79m on pro-Trump Polymarket bets, government threatens to ban site

Join our free newsletter for daily crypto updates!