AAVE Skyrockets 21% with 212% Volume Surge, Can the Bulls Keep Charging?
- AAVE has rallied over 21%, trading at $312.
- Its daily trading volume skyrocketed by 212%.
On the bullish momentum, the crypto market has marked a spike of over 2.77%. This uptick has pushed all the major assets to light up the green candle. The largest assets, like Bitcoin (BTC) and Ethereum (ETH), have climbed to their recent highs, trading on the upside.
Turning attention toward the altcoins, the AAVE price has jumped by over 21.20% in the last 24 hours, securing a spot among the top gainers. In the early hours, the asset has traded at a low range of $259.02. With the bulls in command, the price has mounted toward the high of $314.78, breaking the resistance levels between the $260.12 and $313.90 ranges.
At the time of writing, AAVE trades at around $312.09, with the market cap resting at $4.69 billion. Also, the daily trading volume has increased by over 212% to $811 million. Concurrently, a $5.44 million liquidation of AAVE was observed in the market during this timeframe, as per Coinglass data.
Can AAVE Keep Climbing, or Is a Pullback Near?
The trading pattern of the AAVE/USDT pair reports the upside price trajectory. The price could move above the $316.56 range to strengthen the momentum. The asset might test the crucial $320 resistance level. If the uptrend is sustained, the bulls may invite the golden cross to take place, driving the price higher.
Assuming the AAVE market shifted the gear to bearish sentiment, the price might go down to the range of $309.74. Further downside pressure could likely raise a potential risk and trigger the emergence of a death cross, driving the asset to plunge more steeply below the support at around $305.
Notably, the Moving Average Convergence Divergence (MACD) line of AAVE is found above the signal line, and this crossover indicates bullish momentum. The asset’s price is expected to experience more correction on the upside. Besides, the Chaikin Money Flow (CMF) indicator at 0.41 suggests a positive money flow into the asset with strong buying pressure in the market.
Moreover, AAVE’s Bull Bear Power (BBP) reading of 64.99 implies that bulls have a strong hold over the market. The daily relative strength index (RSI) value of 86.33 signals that the asset is in overbought territory, which may signal a potential pullback or price correction.
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AAVE Skyrockets 21% with 212% Volume Surge, Can the Bulls Keep Charging?
- AAVE has rallied over 21%, trading at $312.
- Its daily trading volume skyrocketed by 212%.
On the bullish momentum, the crypto market has marked a spike of over 2.77%. This uptick has pushed all the major assets to light up the green candle. The largest assets, like Bitcoin (BTC) and Ethereum (ETH), have climbed to their recent highs, trading on the upside.
Turning attention toward the altcoins, the AAVE price has jumped by over 21.20% in the last 24 hours, securing a spot among the top gainers. In the early hours, the asset has traded at a low range of $259.02. With the bulls in command, the price has mounted toward the high of $314.78, breaking the resistance levels between the $260.12 and $313.90 ranges.
At the time of writing, AAVE trades at around $312.09, with the market cap resting at $4.69 billion. Also, the daily trading volume has increased by over 212% to $811 million. Concurrently, a $5.44 million liquidation of AAVE was observed in the market during this timeframe, as per Coinglass data.
Can AAVE Keep Climbing, or Is a Pullback Near?
The trading pattern of the AAVE/USDT pair reports the upside price trajectory. The price could move above the $316.56 range to strengthen the momentum. The asset might test the crucial $320 resistance level. If the uptrend is sustained, the bulls may invite the golden cross to take place, driving the price higher.
Assuming the AAVE market shifted the gear to bearish sentiment, the price might go down to the range of $309.74. Further downside pressure could likely raise a potential risk and trigger the emergence of a death cross, driving the asset to plunge more steeply below the support at around $305.
Notably, the Moving Average Convergence Divergence (MACD) line of AAVE is found above the signal line, and this crossover indicates bullish momentum. The asset’s price is expected to experience more correction on the upside. Besides, the Chaikin Money Flow (CMF) indicator at 0.41 suggests a positive money flow into the asset with strong buying pressure in the market.
Moreover, AAVE’s Bull Bear Power (BBP) reading of 64.99 implies that bulls have a strong hold over the market. The daily relative strength index (RSI) value of 86.33 signals that the asset is in overbought territory, which may signal a potential pullback or price correction.
Read More