AAVE has been looking primed for another surge
The AAVE price rose from $80 on Feb 4th, 2024, to $160 by March 13th, 2024, in response to the rally of BTC from $38774 to $74025. At the top in BTC, the buyers tried three times to rise, but by April 9th, it failed and declined, which influenced AAVE to decline its 50% gains from $160 to $80, and it was back to its previous support on the daily chart.
Thereafter, despite bearish attempts, the support of $80 managed to keep a hold on for longer in AAVE. From the same critical support, the buyers tried again to rise by May 13th, 2024, by following the BTC lead. However, the BTC failed yet again to surpass the supply resistance zone and plummeted, taking BTC and AAVE back to their strong support.
At the daily chart, AAVE has been looking primed for another surge this week, as it surged 11.71% in the past week. At press time, the AAVE traded at $91.60 in terms of market cap and held 62nd rank on Coinmarketcap with an MC of $1.357 billion. The volume-to-market cap ratio highlights moderate liquidity.
Therefore, if BTC Rises, then the AAVE could gain targets like $115 and $160. however, if the BTC sell pressure increases and slips to the next support at $56677, then the AAVE could slip to $50, as well.
Thereafter, despite bearish attempts, the support of $80 managed to keep a hold on for longer in AAVE. From the same critical support, the buyers tried again to rise by May 13th, 2024, by following the BTC lead. However, the BTC failed yet again to surpass the supply resistance zone and plummeted, taking BTC and AAVE back to their strong support.
At the daily chart, AAVE has been looking primed for another surge this week, as it surged 11.71% in the past week. At press time, the AAVE traded at $91.60 in terms of market cap and held 62nd rank on Coinmarketcap with an MC of $1.357 billion. The volume-to-market cap ratio highlights moderate liquidity.
Therefore, if BTC Rises, then the AAVE could gain targets like $115 and $160. however, if the BTC sell pressure increases and slips to the next support at $56677, then the AAVE could slip to $50, as well.
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