Based

bullish

DeFi

Reversal

<p>The post <a href="https://coinpedia.org/news/aave-price-analysis-can-it-break-200-in-september-after-recent-rally/" rel="noopener noreferrer nofollow">AAVE Price Analysis: Can It Break $200 in September After Recent Rally?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Amid a glimmer of recovery hope market-wide, AAVE takes off from the $118 support level. With a streak of bullish candles, the DeFi token shows a bullish reversal in motion.&nbsp;</p>
<p>As the bulls remain dominant above the $100 psychological mark, a reversal rally after a healthy pullback eyes the $200 mark. Will AAVE hit the milestone before September ends?</p>
<h2 class="wp-block-heading" id="h-double-bottom-reversal-for-aave-nbsp">Double Bottom Reversal For AAVE&nbsp;</h2>
<p>In the 4-hour chart, the AAVE price action reveals a pullback phase concluding at $118. The pullback accounts for a 17% drop from $144 within a week. However, the downfall takes a lateral shift as the underlying demand acts as a cushion.&nbsp;</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe028dB7gRRctNT60RkebI9wN6fP-LOy4XIbk7YNGgB5GV3X_IuX1GUAHQAgKhggBmPVx_DRd3FGgKIWT28mvXCCKSPf8Q1E81VHWMiAmB86hzz9qNZoC6YBNbKRFm9cSU25uH2UAL5nRMFhTRwUJAjbL7k?key=ZeAJk4QIr_NN-nFxqklEMw" alt="">
 <figcaption class="wp-element-caption"><a href="https://www.tradingview.com/x/A0ieZN5z/" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
<p>Further, the DeFi token shows a bullish revival with a double-bottom reversal within the consolidation range. The ongoing recovery run created a bullish engulfing candle in the daily chart, with a 6.61% jump yesterday.&nbsp;</p>
<p>Currently, the AAVE price trades at $131.88 with an intraday growth of 0.46%, reflecting a struggle to keep the momentum going. However, amid the broader recovery, the uptrend in the DeFi tokens is likely to continue.&nbsp;&nbsp;</p>
<h3 class="wp-block-heading" id="h-technical-indicators"><strong>Technical Indicators:</strong></h3>
<p><strong>RSI</strong>: The 4-hour RSI line shows a bullish divergence with a bull cycle rising out of a sideways range. As it surpasses the halfway line, the bullish side shows a stronger approach.&nbsp;</p>
<p><strong>EMA</strong>: The sideways shift in the 200 and 50 EMA in the 4-hour chart act as the boundaries of the consolidation range. A breakout of either side will determine the next phase of AAVE.</p>
<h2 class="wp-block-heading" id="h-will-aave-price-hit-200">Will AAVE Price Hit $200?</h2>
<p>Based on the trend-based Fibonacci levels, the AAVE price is challenging the 23.60% level at $134. As the overhead supply puts a barrier, a breakout run will unleash the trend momentum.&nbsp;</p>
<p>The upside targets in September for AAVE are at $155, $183, and $207, based on the 50%, 78.60%, and 100% Fib levels, respectively. Conversely, a downfall under $118 will test the $100 psychological mark.&nbsp;</p>

AAVE Price Analysis: Can It Break $200 in September After Recent Rally?

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