Aave's current trading price is approximately $153, showing signs of a potential breakout. Technical indicators suggest the market is consolidating, with a market capitalization of $224 billion and a circulating supply of 14.96 million AAVE, out of a total supply of 16 million.
According to the Bollinger Bands analysis, the market is tightening, with the upper band at $164.65 and the lower band at $138.93, indicating a price movement is imminent.
The RSI indicator shows a current value of 50.28, in a neutral state, suggesting the market is neither overbought nor oversold, leaving room for future bullish trends, especially with increased demand.
If Aave can break through the resistance level of $155, it may further challenge the levels of $165 and $179, boosting bullish sentiment.
Once a sustained break above $165 occurs, it will confirm an upward trend, attracting more traders into a bullish market.
On the other hand, if Aave falls below the support level of $147, it may test the next support level of $136, which is close to the lower Bollinger Band. Strong buying demand at this level may support a rebound, but if broken, it could bring more downward pressure.
In summary, we focus on the following resistance levels: $155, $165, $179; support levels are $147, $136, $120.
