According to the technical analysis, AAVE prices show a bullish reversal from $76, teasing a jump above the resistance trendline to unleash the trapped bullish momentum. The AAVE prices take a bearish turnaround after facing opposition at the $115 supply zone resulting in a drop to the $75 mark. However, the recent bullish reversal teases a possibility of a trendline breakout as the buying pressure increases. So should you consider entering the reversal rally before the trendline breakout? Key Points: The AAVE price action challenges the resistance trendline in the daily chart. The reversal from $75 accounts for a 12% jump over the last 48 hours. With a market cap of $1.27 billion, the intraday trading volume of AAVE has increased by 17% to reach $136 million. Source – Tradingview AAVE Technical Analysis The AAVE prices fail to exceed the $115 supply zone resulting in a downtrend breaking below the sub-port trend line in the daily chart. The correction phase accounts for a drop of 35% within a fortnight to test the $75 support level. The recent increase in the buying pressure is evident by the spike in the intraday trading volume supporting the bullish reversal. Hence the possibility of an uptrend surpassing the resistance trendline to unleash the trapped bullish momentum increases. A possible reversal from the resistance trendline should bolster sellers to break the week’s support of $75. This breakdown will intensify the bea...
