• AAVE surged 50%, breaking past $180 support with bullish momentum.

  • Key resistance near $190 could cause short-term volatility before the $200 target.

  • Continued buying pressure is needed to sustain AAVE’s uptrend.

AAVE, a popular DeFi altcoin, has taken off, rallying nearly 50% in just five days. This rapid climb broke past previous resistance levels, giving bullish investors a reason to celebrate. While the token’s momentum is strong, some resistance zones still stand in the way. Will AAVE clear the $200 mark, or will volatility stall the bulls?

https://twitter.com/crypt_olympics/status/1855214426518859902?t=EjQ7143HcGB3JMHCJHjoAw&s=19 Strong Momentum Breaks September Highs

On November 7, AAVE soared beyond its September peak of $180.74, building a new support level at $180. As the RSI shot up, the bullish trend gained further strength. Fibonacci extensions suggest that $206 and $248 could be the next major targets.

Yet, despite this momentum, one indicator, the On-Balance Volume (OBV), hasn’t yet surpassed mid-September levels. To maintain the uptrend, buying pressure will need to stay high.

However, a challenge may be waiting at the $190 region, which has accumulated short liquidation levels recently. Failure to break through this zone could spark short-term volatility. If the bulls lose ground, the price might slip to the $171-$175 range, potentially causing investors to tread cautiously.

Volatility Looms as Bulls Aim for $200

Despite recent gains, AAVE’s journey toward $200 may face turbulence. A recent heatmap from the past three months highlights $133, $128, and $121 as areas with high liquidity, especially after October’s dips. The $190 zone has become a target, accumulating substantial short positions.

Meanwhile, Bitcoin’s recent gains have lent support to AAVE, signaling an optimistic outlook for more growth. Reaching above $200 may require AAVE to power through the liquidity pools at $170 and $190. Long-term investors should expect possible pullbacks before AAVE clears $200 with a decisive trend.

With steady buying pressure supporting the climb, the groundwork for more gains is in place—though not without some expected fluctuations. AAVE’s recent surge has brought renewed interest, but challenges remain.

Resistance around $190 and nearby liquidity pools hint at potential volatility. For now, the bulls hold an edge, and a strong push past $200 could spark excitement for AAVE’s next move.

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