AAVE with a Bullish Channel Pattern Eyes To Hit $300 This Month?
Story Highlights
- The AAVE token jumped 11 spots, with intraday gains of around 10%.
- Technical sentiment continues to rise, suggesting higher price targets.
- The altcoin is currently trading at a 31-month high.
AAVE price has soared 2x this year following a strong bullish recovery over the past few weeks. Additionally, the altcoin has a market cap of $3.34 billion and is currently trading at a 66.46% discount to its ATH of $666.86.
With a potential altcoin season just around the corner, will this altcoin regain its lost value and head towards new all-time highs in this crypto bull run? In this article, we have revealed the short-term price outlook.
AAVE price forms an ascending channel pattern!
AAVE price increased by 8.96% in 24 hours with a trading volume of $743.86 million. In addition, it surged about 23% in the past seven days and surged 61.57% in November.
The simple moving average (SMA) continues to support the AAVE price chart on the 1D time frame, indicating strong buy-oversell pressure for this altcoin in the cryptocurrency space.
The Relative Strength Index (RSI) is about to break out of overbought territory, and its average trendline continues to trend upward. This highlights that the 41st largest crypto token may continue to gain value this week.
Will AAVE price reach $300 in 2024?
If bulls sustain AAVE token price above the $220 support, it may be ready to retest the $250 resistance. Additionally, if bullish sentiment intensifies, this could push the altcoin’s price towards its cap price target of $280 this month.
Conversely, if an uncertain event occurs, it could result in a large price correction in the cryptocurrency market. In this way, AAVE price may fall below the $190 level and retest the supporting trendline of its channel pattern.
Will the AAVE price of this AltSeason reach $1,000? read our AAVE Price Forecast Article identifies potential targets. Also, subscribe to us to stay up to date on the latest happenings in the cryptocurrency space!
FAQ
The altcoin surged 9.89% intraday and is currently valued at $222.72.
If the bullish sentiment persists, a high of $230 could be reached in 2025.
As adoption increases and fundamentals refresh, this altcoin could reach highs of $812.56.
