$AAVE

It rose from the 20-day EMA ($283) on Dec. 10 and broke above the short-term resistance at $300 on Dec. 11.

The AAVE/USDT pair is facing selling near $400, but the bulls have not given up much ground to the bears. This suggests that the bulls are holding their positions as they anticipate the up-move to continue. If the buyers push the price above $400, the pair could rally to $450.

The first support on the downside is the 38.2% Fibonacci retracement level of $330. If the price rebounds off this support, the probability of an upside breakout remains. Conversely, a break below $330 could sink the pair to the 20-day EMA ($283).

The pair has bounced off the 20-EMA, which is a critical short-term support for the bulls to defend. If the price sustains above the 20-EMA, the bulls will attempt to propel the pair above the $400 resistance.

Instead, if the price turns down and breaks below the 20-EMA, it will suggest that buyers are booking profits. The pair could drop to the 50-SMA, which is likely to attract strong buying by the bulls.