AAVEUSDT Extends Upside Correction off a Three-Month Low

As of today, the price action in the AAVEUSDT has extended its upside correction off a recently obtained support near the $52.00 price level. Let’s examine the chances of recording more climbs in this market.

AAVE Statistics:
AAVE Value Now: $59.78
Aave Market Cap: $787.69m
Aave Circulating Supply: 14.54M
AAVE Total Supply: 16,000,000
AAVE CoinMarketCap Ranking:

Major Price Levels:
Top: $59.78, $61.00, and $63.00
Base: $59.00, $58.00, and $57.00

AAVEUSDT Tests the $62.75 Mark

AAVEUSDT has tested the $62.75 price level in today’s trading sessions. But it can also be seen that some traders have also taken some profits from this market. This is revealed by the upper shadow of the ongoing session, causing prices to retract below the $60.00 threshold.

At this point, the uppermost band of the Bollinger Bands is fairly pushed, suggesting that it can still accommodate some more push above the $61.00 price mark. Additionally, the Relative Strength Index (RSI) lines are still climbing into the overbought region, pointing out that Aave still has upside potential.

Aave Looks Determined To Keep Going Higher

In the Aave 4-hour market, it could be seen that yet another session has begun and bulls are still retaining a considerable lead. The influence of short traders can still be felt in the ongoing session, but it has placed the price of this token above the uppermost limit of the Bollinger Bands.

Also, the RSI indicator lines can still be seen rising after delivering a bullish crossover above the 70 threshold of the indicator. Technically, traders can still anticipate more price increases towards near-resistance price marks such as $62.00 and $63.00.

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