$AAVE

It broke and closed above the $200 resistance on November 27, signaling the resumption of the uptrend.

The bears pulled the price back below $200 on November 29 but failed to hold the lower levels. The AAVE/USDT pair surged from $200 on November 30, indicating that the bulls are attempting to flip the level as support. The buyers will have to sustain the price above $215 to pave the way for a rally to $260.

This bullish view will be invalidated in the near term if the price turns down and breaks below $194. The pair could then drop to the 20-day EMA ($183).

The bears are attempting to pull the price back to the 20-EMA, which is an important short-term support to watch. If the price bounces off the 20-EMA strongly, it will signal buying on dips. This will improve the prospects for the resumption of the uptrend.

Conversely, a break below the 20-EMA will signal that the bulls are losing control. The pair may then slide towards the 50-SMA. The bulls are expected to aggressively defend the 50-SMA as a break below it may tilt the advantage in favor of the bears.