A brother asked why AAVE hasn't risen and why it remains stagnant here. The previous high on the weekly chart is indeed a resistance level, and it’s unrealistic to break through it in one go. The main force wants to drive the price up, but in the process, they need trading volume to support the required turnover for the rise.
Once the performance is too aggressive, retail investors will rush in to grab the chips. If the main force loses their chips, they can only move sideways, shaking off those who are chasing profits or are stuck in losses with weak positions.
Low-level chips cannot be easily washed away just because they want to, nor can they be easily thrown off the train, so they will not become a real resistance to subsequent rises.
Once a certain amount of chips is recovered, they will continue to push the price up. It's not just this one coin; almost all altcoins follow this rhythm.
I feel like I've gotten a clear understanding of this round of altcoin tricks. It's not that the main force ignores selling pressure and pushes hard like before, but rather that the current retail investors have been hurt too deeply by altcoins and want to run as soon as they make a little profit, unable to hold onto their coins. $AAVE #AAVE