{"id":5862,"date":"2024-09-12T12:30:50","date_gmt":"2024-09-12T12:30:50","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=5862"},"modified":"2024-09-12T12:30:50","modified_gmt":"2024-09-12T12:30:50","slug":"aave-breakout-why-a-1710-surge-is-on-the-horizon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=5862","title":{"rendered":"AAVE Breakout: Why A 1,710% Surge Is On The Horizon"},"content":{"rendered":"

AAVE has been one of the altcoins that have seen a recovery in both volume and price <\/a>over the last week. This comes with a jump in positive sentiment associated with the DeFi token, enabling bulls to reclaim control of the price once more. With this positive sentiment proliferating for the AAVE price, a pseudonymous crypto analyst who goes by Persis10t on TradingView has forecasted a rather bullish future for the cryptocurrency.<\/p>\n

AAVE Breaks Out Of Triangle Pattern<\/h2>\n

According to the analysis shared<\/a> by the crypto analyst on the TradingView website, the AAVE price had been trading inside a triangle pattern. This can be bearish for the price, given that triangle patterns tend to keep prices constrained to a tight range. However, the good news is that the AAVE price has now broken out of this triangle pattern.<\/p>\n

This breakout signals the rise in momentum that has been pushing the price. Furthermore, it suggests that the AAVE price is ready to push upward<\/a> with the rally. Despite the fact that the DeFi token has fallen back to retest its breakout level, the crypto analyst believes that this is a good thing and a positive sign for the cryptocurrency.<\/p>\n

Other factors that support the bullishness include the fact that the AAVE price is being supported by the 100-day Moving Average on the weekly timeframe. This suggests bullishness both in the short and mid-term. Also, the notable rise in its 24-hour trading volume, which has remained consistent over the last few days, lends credence to this bullish narrative.<\/p>\n

Last but not least on the list of bullish developments is a crossover on the 50-Day and 100-Day Moving Average. As the crypto analyst explains, this crossover is something that could fuel the AAVE price from here<\/a>, helping it sustain its rally.<\/p>\n

How Far Can The Price Go?<\/h2>\n

When it comes to how far the AAVE price<\/a> can rise from here, the crypto analyst is incredibly optimistic about the future of cryptocurrency. While AAVE is currently trending around $150<\/a>, the analyst believes that it is destined for four digits soon.<\/p>\n

The chart shows that there will be corrections along the way, but ultimately expects it to breach the $1,000 level. At the very top of the rally, the crypto analyst puts the price at $2,516, which would be a 1,710% increase from its current price.<\/p>\n

At the time of writing, the AAVE price is sitting at $151 after climbing 0.5% in the last day. Likewise, its daily trading volume is seeing a small uptick of 0.7%, putting it at $394.5 million.<\/p>","protected":false},"excerpt":{"rendered":"

AAVE has been one of the altcoins that have seen a recovery in both volume and price over the last week. This comes with a jump in positive sentiment associated with the DeFi token, enabling bulls to reclaim control of the price once more. With this positive sentiment proliferating for the AAVE price, a pseudonymous […]<\/p>\n","protected":false},"author":0,"featured_media":5863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5862"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5862"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/5863"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}