AAVE Rebounds 7%: Will Buyers Push Through Key Resistance or Lose Steam?

• AAVE is hovering near the $96 mark.
• The overall price velocity is tilted upward.

With the fear sentiment in the crypto market, all major assets are found in green waves across the chart. Among the altcoins, AAVE has gained by over 7.54% in the last 24 hours. AAVE is pressing against the upper boundary of a rising wedge. 

Buyers are still in control, but rising wedges signal fading bullish momentum. The lower trendline is the level that matters most. As long as it holds, the uptrend stays intact. A breakdown below the wedge could trigger a pullback toward the next support zone. 

A high-volume breakout above the upper boundary flips the script entirely. The short-term sentiment is cautiously bullish, but don’t chase the price without watching for a wedge breakdown first.

It traded at a low of around $88.31, and the asset has climbed high toward $98.02. Currently, AAVE is trading within the $96.41 mark, with its market cap at $1.48 billion. In addition, the daily trading volume has surged by over 22.97% to the $279.79 million zone. 

AAVE’s bullish price pattern might push the price higher toward the resistance at around the $97.58 range. If the golden cross is formed, the upside pressure points at a higher target, with the bulls sending the price above the $99 mark.

Upon AAVE’s current market sentiment turning bearish, the price could retrace to its nearby support at the $95.31 level. Further downside correction might trigger the death cross to emerge, and gradually, the price will slip below $93.

Is AAVE Positioned for Further Upside?

The Moving Average Convergence Divergence and signal lines are above the zero line, which indicates a strong, established macro uptrend. The bulls are in total control, and the long-term momentum is firmly positive. Also, the overall price velocity of AAVE is tilted upward. 

Short-term price drops are viewed as temporary corrections rather than a market collapse, offering lower-risk buying opportunities. To protect profits, traders keep riding the trend until the MACD line crosses back below the signal line, or until both lines drop back to zero.

Furthermore, the asset’s daily Relative Strength Index (RSI) at 64.34 suggests strong bullish momentum with room left to run. AAVE is experiencing aggressive buying pressure, pushing above the neutral 50 line. The upward trend is highly active and healthy. 

It sits under the critical 70 threshold; the asset is not technically overextended. This is a classic strong trend continuation signal. Traders view this as a green light for an uptrend, though they will keep a close eye on the approach to 70 for signs of local exhaustion.

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