$AAVE is approaching key support levels, with analysts predicting a major breakout in the coming months. Technical indicators hint at a bullish reversal. Here's what traders need to watch.
AAVE Approaching Critical Levels
Support Zone: $113.51-$72.40
Key Breakout Level: 800
Resistance Range: $473.13- $546.54
At press time, AAVE is trading at $248.96, up 1.69% in the last 24 hours and 2.65% over the past week. Market sentiment remains mixed, but a breakout above $300 could confirm an uptrend toward $450-$600 in the next 3-6 months.
Technical Indicators Signal Potential Reversal
MACD: The bearish trend persists, but narrowing lines suggest a possible bullish crossover.
RSI: 39.84, indicating oversold conditions- signaling a potential rebound.
Bollinger Bands: Trading below $215.47, showing market compression before a potential move.
Futures Open Interest & Funding Rates Reflect Trader Sentiment
Open Interest: $212.27M, showing reduced trader activity from its $500M peak in late 2024.
Funding Rate: 0.0021 (positive), suggesting traders anticipate higher prices.
Predicted Funding Rate: 0.0080, reinforcing bullish expectations.
Market Outlook: Will AAVEE Break Out?
Crypto analyst Michaël van de Poppe suggests $AAVE is likely bottoming out, stating:
“Massive weekly candle on AAVE. That doesn’t imply we’ll continue to fall from here, it’s likely a bottoming procedure.”
For AAVE to maintain its momentum, it needs to surpass $300 and establish support above this level. The upcoming CPI and PPI reports may influence broader market trends, impacting AAVE's trajectory.
Will AAVE hit $600 in the coming months? Let us know your thoughts!
