AAVE/USDT Maintains a Bullish Path

The AAVE token has continued its upward path since rebounding off support around the $120 level. Once again today, the token has registered an additional price increase of 8.97%. Furthermore, price activity in this market still maintains a favorable base level that may support further upside recovery.

Aave Statistics

Current Price: $262.58

Market Capitalization: $3.95B

Circulating Supply: 15.11M

Total Supply: 16M

CoinMarketCap Rank: 29

Key Price Levels

Resistance: $300, $350, $400

Support: $250, $200, $150

AAVE/USDT Bulls Are Reaching Toward the $300 Mark

Price action on the AAVE daily chart continues to show gains ranging from minimal to moderate. As a result, the price has stayed above the middle band of the Bollinger Bands. The latest candle remains green, indicating that bullish momentum is still active.

The upper and lower limits of the Bollinger Bands remain wide, and the indicator itself is beginning to tilt upward. The lines of the Moving Average Convergence Divergence (MACD) can also be seen continuing to rise above the equilibrium level. Therefore, this market may continue on its upward path in the near term.

AAVE Market Hovers at High Altitude

On a smaller time frame, the AAVE/USDT market shows that price activity continues to push higher. Recently, bulls have driven the market to test the uppermost limit of the Bollinger Bands. Interestingly, price action has not experienced a strong downward rebound.

As such, the recent red candles are small, indicating only slight pullbacks. The MACD lines also remain on an upward trajectory above the equilibrium level. Consequently, traders may still aim for the $300 price level, as bullish momentum appears to remain strong.

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