AAVE is trading around $124.40, with a setup suggesting possible significant price movements soon. The price has been moving within an ascending channel since early 2022, frequently testing key support and resistance levels, highlighting strong market interest.
Key Levels to Watch:
• Immediate Resistance: At $129.88, a breakout here could target the next major resistance at $261.20 (weekly high).
• Support Zones: If AAVE drops below $100, it may decline further to the channel’s lower bounds near $70 and potentially down to the weekly low at $45.60.
Potential Scenarios:
• Bullish: A break above $129.88 could push AAVE towards $200, with a chance to reach $261.20.
• Bearish: A rejection at resistance might lead to a pullback to $100, with potential further declines to $70 or $45.60.
📈 Conclusion: AAVE is at a critical point; watch for a break above $129.88 or a dip below $100 for the next major move.
