$AAVE Aave Technical Prospects Indicate Rally Towards $400 as TVL Reaches All-Time High
The price of Aave found support around the 61.8% Fibonacci retracement level at $252.44 (drawn from the low of April 7 at $114.05 to the high of July 18 at $337.98) on August 3 and rallied nearly 30% in the following nine days until Tuesday.
This level roughly coincides with an upward trend line (drawn by connecting several lows since early April), making it a key support zone. At the time of this news on Wednesday, the price was around $321.
If AAVE continues its upward trend, the price could rally towards daily resistance at $367.11. A successful close above this level could continue the rise towards the key psychological level of $400.
