$AAVE (AAVE) is currently trading at approximately $304.33, reflecting a 0.78% increase over the past 24 hours. The price has fluctuated between an intraday low of $294.67 and a high of $306.70 during this period.
The token has recently rebounded from the $292.86 support level, indicating renewed bullish momentum. If this upward trend persists, AAVE could target the resistance zone between $312.80 and $318.40. Traders considering a long position might look for entry points between $302.00 and $305.00, with potential profit-taking levels at $307.50, $310.00, and a final target of $313.00. A stop-loss order below $292.00 is advisable to manage downside risk.
Technical indicators suggest a cautiously optimistic outlook:
Momentum Indicators: The Relative Strength Index (RSI) is approaching bullish territory without being overbought.
Moving Averages: The price has moved above the 20-day Simple Moving Average (SMA), signaling potential upward momentum.
Volume: Trading volume has increased, supporting the recent price movement.
Overall, while short-term indicators are positive, it's advisable to monitor volume and market structure closely to confirm the sustainability of this trend.