Aave’s Bullish Momentum Persisting Amidst Short Correction
Aave’s price has corrected from its recent high, yet its bullish trend persists.Investors are now closely monitoring the market, looking for signs of a new upward push.
after a significant rally from the $114 low, Aave hit an remarkable peak around $316. This upward movement has now slowed, with the price retreating slightly. Nonetheless, the overall trend is still considered bullish. Analysts suggest the current correction might set the stage for a higher low, perhaps fueling further growth.
Here are the key technical points:
- Potential Higher Low Zone: this area combines the value area low, HTF support at $159, and a significant swing low.
- Current Resistance: the point of control acts as a short-term resistance, with the price now near this level.
- Volume Profile: Increased trading volume around the higher low zone is crucial to confirm a bullish trend.
Review the AAVEUSDT (1D) Chart for a clear visual of these trends.
The market’s bullish structure is still intact. Corrections during bullish trends are normal and can help restore balance between buyers and sellers. Aave is currently near the point of control, acting as a local resistance. A pullback from this level is expected, especially after the recent surge.
$159 is a critical zone. If the price returns here with strong volume,it indicates buyer interest,supporting the uptrend. Without significant volume, any bounce might lack the necessary momentum.
From a broader viewpoint, the correction from $316 hasn’t broken the uptrend. A higher low at $159 would keep the outlook positive.However, failing to hold this level could lead to further declines.
Watch the $159 support closely. If a higher low forms here with strong volume, Aave could retest the $316 highs. Conversely, a loss of $159 support would weaken the bullish setup.
