AAVE/USDT Price Breaks Through an Important Price Ceiling Level

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RESULTS

Price movements in the AAVE/USDT market are making an effort to extend the upside retracement after it corrected the price mark at the $77.10 resistance price mark. A new session has begun, and buyers are looking forward to recording profits as trading activities continue.

 

AAVE Statistics
Aave Value Now: $73.23
AAVE Market Cap: $129,755,387.83
Aave Circulating Supply: —
AAVE Total Supply: —
Aave CoinMarketCap Ranking: 94

 

 

Major Price Levels:
Top: $73.23, $75.50, and $77.00
Base: $72.00, $71.00, and $70.00

AAVE/USDT Bulls Charge Through Price Ceiling at $71.44 Mark

 

Buyers in the AAVE/USDT market have made a big impression that price action may revisit the resistance at the $77.10 mark. The last price candle on this chart is a long bullish one and has poked through the Fibonacci Retracement level of 50.

 

Consequently, the breaking of this ceiling usually has a bullish implication, as more traders may grow more confident about price movements in this market. Also, with the help of the last price candle, the current price of this token has now surpassed the 9- and 21-day Moving Average curves.

 

As a result, the leading line of the Stochastic Relative Strength Index (RSI) is now bent toward the lagging line. This seems to suggest that more bullish momentum may eventually set in at this mark, which will propel prices upward.

Headwinds Are Trying to Upset the Price Upside Move in the Aave Market

 

Moving to the Aave 4-hour time frame, it could be seen that although prices have significantly surpassed the MA lines, short traders seem to be causing some upset in this market. A red candle with a short body has appeared for the ongoing 4-hour session.

 

Also, the leading line of the RSI indicator is now bent sideways from its upward orientation. However, the size of the candle suggests that things are still developing.

 

Then traders will have to be tolerant of some downward correction in the ongoing session, as the upside probability still looks fair enough. Traders can still hold on to the $77.10 price retracement expectations.

 

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