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The AAVEUSDT market continues to exhibit strong bullish momentum, with the token’s price now approaching a multi-month resistance level. Judging by the current session’s price action, it seems the bulls are far from running out of steam.
Today’s trading has seen significant gains for Aave, with the price up by roughly 7% at the time of writing. The bullish momentum is particularly strong, as evidenced by the price consistently pushing the upper limits of the Bollinger Bands (BB) indicator.
Notably, the current price candle has formed outside the upper band without any upper shadow, indicating that the upward forces remain robust, free from downward pressure. The Stochastic Relative Strength Index (Stochastic RSI) is also tilted upward, with the leading line already touching the 100 mark, signaling that the market remains heavily overbought yet strong.
Aave Market Appears Poised to Break the $140 Price Level
On the 4-hour chart, AAVEUSDT mirrors the daily market’s bullish characteristics. The latest candle has no upper or lower shadow, reinforcing the strength of the upward momentum. The market continues to hug the upper limit of the BB indicator.
Additionally, the Stochastic RSI has executed an upward crossover above the 50 level, further signaling bullish strength. Traders may consider using crypto signals targeting the $140.00 level or slightly below $150.00 for potential short-term profits.
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