AAVE is showing strong bullish signals, with analysts targeting a price of $530. Crypto analyst CW shared on X (formerly Twitter) identifying $530 as the next target for AAVE’s price. This projection aligns with ongoing technical trends and chart patterns, suggesting a potential breakout in the coming days.
The AAVE price chart displays a sustained upward trajectory since early December. The trend began with a sharp upward impulse wave from Point A to B, signaling strong buying momentum. After this rally, the price entered a consolidation phase, forming a smaller retracement from B to C.
A notable rising wedge pattern is emerging, with two trendlines converging as the AAVE price moves higher. The lower ascending support line connects previous lows, while the upper resistance line marks points of rejection. Analysts suggest that this structure indicates an imminent breakout, potentially pushing the price toward the projected target.
Image Source: X/CW Volume and Buying Activity
Volume trends reinforce the bullish sentiment. AAVE’s upward moves have coincided with significant spikes in trading volume, signaling increased participation from buyers. Conversely, the volume has tapered during consolidation periods, showing a lack of strong selling pressure. This pattern suggests that buyers remain dominant and the uptrend is intact.
If AAVE’s price continues to hold above the ascending support trendline, it could confirm strength and attract additional buyers. Analysts are watching for a decisive move above the resistance line to validate the bullish breakout.
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Technical Indicators and Target Price
The projected target of $530 aligns with Fibonacci extension levels, specifically the 1.618 extension measured from Point B. This indicator is often used to predict price movements after significant rallies.
Market analysts believe that surpassing the resistance near Point C will propel the token toward the next major level at $530. Failure to hold above the lower support line, however, could negate this bullish outlook.
Analyst’s Perspective
CW’s prediction of $530 highlights a continuation of the prevailing bullish trend. This outlook is supported by technical factors such as the rising wedge pattern, increasing volume on upward moves, and consistent higher lows. Traders will be watching the price behavior near key resistance levels to gauge whether AAVE’s price can meet this ambitious target.
If the breakout occurs, the token could see over 40% appreciation from its current levels of approximately $360–$380. For now, market sentiment and price action suggest that AAVE remains on a bullish path.
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The post Market Analyst Predicts AAVE Will Hit $530—Here’s Why appeared first on CaptainAltcoin.
