Based

bullish

DeFi

Pandora

Reversal

The post <a href="https://coinpedia.org/price-analysis/aave-price-open-a-bullish-pandora-with-a-110-breakout/">AAVE Price Open A Bullish Pandora With a $110 Breakout</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a recovery rally in altcoins, the AAVE price trend jumps with the broader market boost. As bulls reclaim the $100 psychological mark, an actual bullish achievement comes with the $110 breakout. Will this recovery run in AAVE result in a 60% surge before Q4 begins? 
<h2 class="wp-block-heading" id="h-v-shaped-reversal-for-aave">V-shaped Reversal For AAVE&nbsp;</h2> 
With the DeFi token finding a new demand sprint, the bullish trend in AAVE price picks up pace. Ranking at #47 with a market cap of almost $1.7 billion, AAVE shows a bullish recovery of 25% in six days.&nbsp;Amidst the recovery run, the market players support the <a href="https://coinpedia.org/price-prediction/aave-price-prediction/">AAVE price prediction </a>of $200 this year. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd8zRu_X4zl_pwYV9JIIQnbQY2OURPIyXvr2dd1Mr8st6d8-FW60N-FlKASNYpx1Q-1uBFbqs7M-EcXxtvhG_RUExH7S_0cCLZLuEhThsQA9Jo2hw--20TRDARE81fOmD0bHa0aBG56axYkT3sbyf2a3-Fy?key=ZeAJk4QIr_NN-nFxqklEMw" alt="">
</figure> 
<a href="https://www.tradingview.com/x/A0ieZN5z/">TradingView</a> 
The recovery rally in AAVE forms a V-shaped pattern and reclaims the $100 psychological mark. Further, the bullish trend surpasses the $110 mark or the 50% Fibonacci level in the daily chart.&nbsp; 
Currently, the AAVE price trades at $113.39 with an intraday gain of 1.06% following the 4.52% bullish engulfing candle formed last night. As the breakout run gradually gains momentum, the uptrend in the DeFi token eyes a bullish week ahead.&nbsp; 
Technical Indicators: 
RSI: The daily RSI line shows a rising trend from the halfway line, ready to hit the ceiling of the overbought boundary at 70%. As the streak of bullish candles in the AAVE price trend continues, the RSI line skyrockets.&nbsp; 
EMA: The bullish crossover of the 50D and 100D SMA gives a buy signal to sideline traders. Further, the chances of a golden crossover in the 50D and 200D SMA increases.&nbsp; 
<h2 class="wp-block-heading" id="h-where-is-aave-price-headed">Where Is AAVE Price Headed?</h2> 
Based on the Fibonacci levels, the AAVE price breaking above the 50% Fibonacci level is a potential buy for momentum traders. Further, the price action shows a neckline at $116, which will be a point of high momentum uptrend post-breakout. 
The upside targets for the DeFi tokens are at $128, $147, and $182, based on the 78.60%, 100%, and 161.80% Fib levels. Conversely, a downfall under $110 will test the 200D SMA at the $100 psychological cushion.&nbsp;

AAVE Price Open A Bullish Pandora With a $110 Breakout

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