Aave (AAVE) recently saw a steep rally, breaking above key resistance levels and flipping them to support after recording a 55% jump in...
recently saw a steep rally, breaking above key resistance levels and flipping them to support after recording a 55% jump in just over a week.
However, the recent rebound from the $89 support level has set the stage for buyers to change the trend. This rally pushed the price significantly higher, with AAVE trading at $135.68 at press time. The Volume Profile Visible Range indicated strong resistance around the $135-$142 range, which coincided with the previous high-volume rally. Failing to break above this level could result in a pullback towards the $116 support level.
Since the altcoin recently flipped the $129 level from resistance to support, we could see a potential re-test of this support, followed by a consolidation phase.
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