Aave (AAVE) has bounced back from the moving averages on April 30th, indicating that market sentiment has shifted to positive and investors are buying in as prices correct.
The bulls will attempt to push the price up to the $196 level – where strong selling is expected from the bears. If the price corrects from $196 but finds support at the 20-day EMA, the chances of breaking through the upper resistance zone will increase. At that point, the AAVE/USDT pair could aim for $220 and then $240.
To prevent this upward momentum, the bears need to quickly pull the price down below the moving averages. If they succeed, the price could plunge to $130
