$AAVE Price Prediction: Rebound from key support ?
$⭐ Buy and trade here 👇
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Aave’s price retested and found support around its key level at $219.69 on Monday and rallied by nearly 16% until the next day. This level aligns with the 200-day Exponential Moving Average (EMA), the 50% Fibonacci retracement level (derived from the April low of $114.05 to the June high of $325.40), and the ascending trendline formed by connecting multiple lows since early April, representing a key support zone. At the time of writing on Friday, it trades above $260.
If AAVE continues its upward trend, it could extend the rally toward its next daily resistance at $282.52. A successful close above this level would extend the gains to retest its June 11 high at $325.41.
The Relative Strength Index (RSI) on the daily chart hovers around its neutral level of 50, indicating a lack of momentum and indecision among traders. For the bullish momentum to be sustained, the RSI should continue to move above its neutral level.
if AAVE faces a correction, it could extend the decline to retest its key support level at $219.69, its 200-day EMA.
⚙️ॐ Risk: Use proper risk management — 3x–5x leverage recommended☀️
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