Aave (AAVE) Aims at a 40% Rise After a Breakout
Since the AAVE price dropped from its highs during the 2021 bull run, it has remained below $110 for over 30 months. However, a bullish start to the week has pushed the price beyond this pattern, setting the stage for a potential recovery. Currently, AAVE is advancing towards testing interim resistance at $145. A breach above the yearly highs could provide a boost toward higher targets.
The price’s consolidation within a parallel channel indicates the growing strength of the bulls, which has shifted the rally’s trend. The On-Balance Volume (OBV) has shown significant variation and now sits at the upper threshold. If this level holds, AAVE may enter a strong bullish trend; otherwise, a deviation could result in a rejection. Given the current trade setup, AAVE is expected to rise above $145, potentially experiencing a small pullback before continuing its ascent to test higher targets.
Avalanche (AVAX) Price is Preparing for a Breakout to Reach $30
In contrast to AAVE, AVAX has been trading within a descending parallel channel. The price has consistently formed lower highs and lows, suggesting bearish dominance. However, a bullish push of over 15% could validate a trend reversal and trigger a new upswing.
Following a recent rejection from the channel’s resistance, the price has undergone a parabolic recovery and is nearing these levels once again. The Direct Movement Index (DMI) is about to signal bullish conditions, with +Di and -Di approaching a bullish crossover. This development suggests that the price may reach the channel resistance at $26.34, surpassing the supertrend levels. Such a move could turn the supertrend bullish, potentially pushing the price beyond $30.
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