The post Chainlink Triggers the ‘Power-Mode’ to Form New ATH While Aave Confirms a Breakout—Here’s What’s Next appeared first on Coinpedia Fintech News
After the recent rise in the price of Bitcoin, the markets had gained some momentum that had offered a good start for the week. Meanwhile, the bullish trend failed to sustain for long as the buyers fell weak. Amid the growing concerns of a rejection, altcoins like Chainlink (LINK) & AAVE (AAVE) prices have begun to swell. Has the majority of the buying volume flowing into these altcoins? With this, will the tokens to close the yearly trade above their aimed targets at $50 and $100?
Chainlink (LINK) Displays Massive Strength
LINK price was battling the major resistance between $28 and $29, while a clean breakout triggered a strong upward move. While a rejection was expected to be fast approaching, the rise in the buyer’s strength has opened the doors for higher targets. On the other hand, the whale’s interest in the token has increased as they accumulated close to 430K LINK, and institutions like Trump’s World Liberty are spending nearly $2 million to buy over 78,000 LINK, indicating the rising bullish sentiments.
The token has seen a rise in its trading volume in the past few days, which has helped it to surge above the pivotal zone between $27.5 and $28.4. Meanwhile, two major indicators have rebounded from a bearish pattern, suggesting the growing strength of the bulls. RSI & OBV have flipped, displaying a bullish reversal, and hence the token is expected to revive a strong ascending trend beyond interim resistance at $34.4, followed by a rise within the resistance zone between $36.8 and $37.7 in a few days.
AAVE Price Eyes to Reach $500
The Aave price is trying hard to validate a breakout that it has been doing for over a week. Despite constant attempts, the price is failing to sustain itself within the resistance zone between $386.66 and $392.3. The crypto is about to rise back within the range, which is expected to have a major impact on the AAVE price rally for the year-end.
As seen in the above chart, the AAVE price is rising, and in the short term, it has been consolidating within the pivotal resistance zone and support zone between $356.71 and $350.97. However, a breakout above the immediate resistance just above $396 may clear the path to $400. With this move, the AAVE price is expected to rise and reach the interim milestone of $500. Meanwhile, the Bollinger bands, which are going parallel to each other, suggest the token may remain within an accumulated range for a while. Therefore, the AAVE price is believed to test $395 to $398 and face a small pullback, keeping the bullish momentum intact and aiming to reach $500.
