AAVE with a Bullish Channel Pattern Eyes To Hit $300 This Month?

Story Highlights

• The AAVE token jumps 11 positions with an intraday surge of ~10%.
• The technical sentiments experience a constant uptrend, suggesting a higher price target.
• This altcoin is currently trading at a 31-month high.

With a strong bullish recovery over the past few weeks, the AAVE price has now recorded a 2X surge this year. Moreover, with a market cap of $3.34 billion, this altcoin is currently trading at a discount of 66.46% from its ATH of $666.86.

With a potential Altcoin season around the corner, will this altcoin regain its lost value and head toward a new all-time high this crypto bull run? Dive in as, in this article, we have uncovered the short-term price prospects.

AAVE Price Forms Rising Channel Pattern!

The AAVE price has added 8.96% to its portfolio in 24 hours, with a trading volume of $743.86 million. Moreover, it has surged ~23% over the last seven days and 61.57% during November.

The Simple Moving Average (SMA) constantly supports the AAVE price chart in the 1D time frame, suggesting a strong buying-over-selling pressure for this altcoin in the crypto space.

The Relative Strength Index (RSI) is on the verge of breaching the overbought range, with its average trendline recording a constant uptrend. This highlights that the 41st largest crypto token may continue gaining value this week.

Will AAVE Price Hit $300 In 2024?

If the bulls maintain the AAVE coin price above its support level of $220, it may prepare to retest its resistance level of $250. Moreover, if the bullish sentiment intensifies, this could push the price of this altcoin toward its upper price target of $280 this month.

On the contrary, if an uncertain event occurs, this could result in the crypto market experiencing a significant price correction. With this, the AAVE price could plunge below its $190 level and retest its support trendline of the channel pattern.

Will AAVE price hit $1,000 this AltSeason? Read our AAVE Price Prediction article to find out the potential targets. Also, subscribe to us to stay updated on the latest happening in the crypto-verse!

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