The entire cryptocurrency market seems to remain in a state of turmoil as the price of Bitcoin continues to fluctuate around $64,000. However, amidst this turmoil, mid-cap altcoins are showing unusual vitality, especially Aave (AAVE) and Mantra (OM), which are leading a bullish resurgence.
GHOST
Despite the overall selling pressure in the market, AAVE has achieved a gain of about 10% in the past day, with a trading volume of $350.47 million. This strong performance is not only reflected in the short term, but also in the past week and 30 days, AAVE has risen by 16.93% and 30.61% respectively.
Technically, AAVE has formed an ascending channel pattern on the 1D timeframe and is about to test its resistance trendline. At the same time, the RSI indicator is about to break through the overbought range, and the EMA 50/200 daily lines also show a golden cross, all of which indicate that Aave has a positive outlook for some time to come. If the market continues to be bullish, AAVE is expected to test the overhead resistance of $131 this month.
ABOUT
Not to be outdone, the OM token has shown great resilience despite the market volatility. In the past day, OM has risen by about 5%, and in the past week it has risen by a whopping 37.40%, with a year-to-date return of an astonishing 1,940.27%.
Technical analysis shows that the red histogram of MACD continues to decline, indicating that the OM price trend is strengthening. At the same time, the EMA 50-day continues to support the price chart, indicating that the Mantra price is expected to continue to rise this week. Under the optimistic market sentiment, the OM token is expected to hit the upper resistance level of $1.60 this month.
In summary, AAVE and OM, as representatives of medium-sized altcoins, are leading the bullish trend of the market with their unique charm and strong performance.
(Personal opinion, not a recommendation)
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