AAVE price is heating up again, and traders are starting to take notice. According to a weekly chart shared by crypto analyst Ali Martinez on July 16, the SuperTrend indicator just flashed a fresh buy signal on AAVE. 

That same signal appeared twice before, in 2020 and 2023, and both times, AAVE price exploded by hundreds of percent. Now, with AAVE sitting at $329 and gaining over 7% on the week, the setup looks familiar.

AAVE Weekly Breakout Shows Strong Momentum Building

The current move comes after weeks of steady gains. AAVE price climbed past the $300 mark and is now testing the $330 area. What’s got traders excited is the SuperTrend flipping bullish. 

That gray band on the chart, which tracks trend shifts and volatility, has turned into support for the first time in months. The last two times this happened? AAVE price rallied 870% and 400%. 

Those aren’t small moves, and it’s part of why this signal has people watching closely. While history doesn’t always repeat, many traders are wondering if we could see a run back toward $500.

Read Also: AAVE Price Prediction for July: Is a Surprise Move Still on the Table?

AAVE Chart Structure Lines Up With Past Rallies

Looking at the AAVE chart, you can see that AAVE has been forming a clean series of higher lows since late 2022. 

The uptrend really started picking up around early 2024, when the price broke out of a long-range between $220 and $280. 

Source: X/AliCharts

That breakout zone now acts as the main support area,it sits near the $240 level. On the upside, short-term resistance is around $333 to $336. 

If AAVE price pushes through that range with volume, the next psychological barrier would be $400, followed by that $500 level many are eyeing.

Analyst Tweet Sparks Buzz

In his tweet, Ali Martinez points out the obvious: the SuperTrend signal has been a strong guide in AAVE past. 

He notes that previous buy signals came right before massive moves, and now that it’s appeared again, people are watching to see if AAVE price can pull off another repeat.

It’s too early to say how far this run might go, but with the structure lining up and trend indicators flipping, AAVE has clearly entered a zone where bulls are gaining confidence.

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The post AAVE Buy Signal Returns – Will It Lead to Another Massive Rally? appeared first on CaptainAltcoin.