AAVE's current indicators suggest a potential rally, but overcoming the $150 resistance is key. Traders should keep an eye on...
has gained significant traction in this bullish cycle. Especially since its 24-hour trading volume rose by nearly 12% to $180 million.. Interestingly, with the RSI dipping into oversold territory at press time, the altcoin’s current price offers ample opportunity for traders to view it as a “dip,” before a massive parabolic surge. Especially with the bullish MACD crossover.
However, this cycle tells a different story. Back in March, when BTC hit its ATH of $73k, AAVE enjoyed a sustained bull rally that lasted over a month, ultimately closing near its press time price. Amid growing volatility driven by the upcoming elections, Bitcoin is likely to attract most of the liquidity. This could divert interest away from lower-cap altcoins.Additionally, there has been a significant hike in short positions within the derivatives market – A trend that makes sense given the current conditions.
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