AAVE rejected at $146 resistance, with consolidation likely unless a breakout leads to higher price targets.
the importance of closing above $146 for a bullish breakout, noting that this crucial weekly close was missed. The consistent failure to overcome this level suggests that AAVE is not yet ready for a sustained rally.
This consolidation could see AAVE trading within this range until a decisive move either above resistance or below support occurs.For a bullish breakout to be confirmed, AAVE would need to secure a close above $146. If this occurs, the next price targets could be as high as $180, signaling renewed bullish momentum.
Despite these failed attempts, some bullish technical patterns are forming. AAVE’s chart shows an inverse head and shoulders pattern, a classic bullish reversal setup. Additionally, the price is breaking out from a falling wedge, a pattern that typically precedes upward movement.Although AAVE’s rejection at $146 is concerning, technical indicators point to some bullish momentum. The Relative Strength Index currently sits at 65.
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