However, in the past two days, Aave has experienced some declines, prompting analysts to examine its recent trends to predict where it might be headed next.daily price trend revealed a significant increase over the past few weeks.
This bullish indicator occurs when the short-term moving average crosses above the long-term moving average. Thus, the altcoin could see further upward momentum, reinforcing a positive outlook soon.revealed that it recently surged to its highest point in over a year, reaching approximately $191 million on the 22nd of August.
This surge in Open Interest indicated a significant inflow of capital into Aave, driven by its press time price trend.Additionally, AMBCrypto’s look at Aave’s Funding Rate showed that it has consistently remained above zero, standing at around 0.0027% at press time. Thus, AAVE saw strong and sustained positive sentiment, reflecting traders’ confidence in the altcoin’s continued performance.The Fibonacci retracement levels on the chart indicated that the 0% level, near $137.49, marks the recent high and served as immediate resistance.sustains its price above the 23.6% Fibonacci level at $129.68, and the RSI remains under 70, avoiding the overbought zone.Successfully breaking above $137.
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Source: CryptoAmb - 🏆 22. / 68 Read more »
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