$AAVE continues to climb steadily — Are we witnessing a breakout above $290 soon?
Coin #AAVE/USDT continues its positive performance, recording a daily rise of +6.36% to reach $278.36, after touching a 24-hour high of $282.84. Technical indicators hint at the continuation of the upward trend, so are we expecting a price explosion soon?
Technical Analysis:
Bollinger Bands:
The price is moving steadily on the upper limit, indicating strong buying momentum and continued confidence from the market.
MA (5 and 10):
The moving averages clearly support the upward trend, with a sharp upward tilt, confirming buyers' dominance.
RSI (6): 79.78
Near the overbought zone, which means there is strong momentum but with the potential for a slight correction before continuing upward.
MACD:
Positive crossover and stability in the green bars support the continuation of momentum in the coming days.
Proposed Trading Strategy: "Trade with the Trend"
Ideal Entry Point:
If the price retraces to test the support area of $270 – $274.
Stop Loss:
Below the $260 level to reduce risk in case of a reversal.
Profit Targets:
First Target: $290
Second Target: $305
Third Target: $325 if the momentum continues with the same strength.
Do you think AAVE is capable of breaking the $300 barrier? Or is the market preparing for a correction wave? Share your opinion in the comments!