DeFi token AAVE eyes 40% rally in May but 'bull trap' risks remain
A classic technical indicator risks sending AAVE's price toward $105 in the next few months. A sharp rebound move witnessed in the Aave (AAVE) market in the last three days has raised its potential to rise further in May, a technical indicator suggests.AAVE price rebounds from key supportDubbed a "rising wedge," the pattern appears when the price rises inside a range defined by two ascending, contracting trendlines. It typically resolves after the price breaks below the lower trendline with convincingly rising volumes.AAVE has been painting a similar ascending channel since early February....
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Aave’s rising total value locked, improving fundamentals and renewed interest in DeFi tokens triggered a double-digit rally in AAVE price. As the crypto bull market continues to gain traction, the price of Aave’s native token, (AAVE), is pushing toward new all-time highs.The growth of the decentralized lending platform appears to be bolstered by improving fundamentals, steady growth in the total value locked on the platform, and the creation of a DeFi based crypto-collectibles token and community called Aavegotchi, Unarguably, Aave was one of the DeFi success stories of 2020, as its price....
The price of Bitcoin reclaimed $18,000 but traders remain cautious of a weekend bull trap. The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTC’s weekend rally.Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.BTC/USDT 4-hour chart (Binance). Source: TradingView.comWhy a bull trap for....
Surging volume, demand for flash loans and a strong rally in DeFi tokens pushed AAVE price to a new all-time high today. Aave (AAVE) price has been on an absolute tear for weeks and today the DeFi-token rallied to a new all-time high at $288.90. The decentralized finance protocol is one of the most popular in the market and the recent rally in the DeFi sector is one of the driving forces behind AAVE’s rally. AAVE/USDT 4-hour chart. Source: TradingViewAt the start of 2021, AAVE price was trading at $83 and the recent rally appears to have bolstered the protocol’s surging total value locked,....
Top decentralized finance (DeFi) coins such as AAVE are outperforming over the past day. While Bitcoin and Ethereum are both up massively today, AAVE is up 18.5% in the past 24 hours alone. This performance makes it the best-performing digital asset in the top 100 by market capitalization. AAVE is now up by approximately 10% […]
A pause in the Bitcoin price rally has created room for other alternative cryptocurrencies to take over the bull trend. AAVE is leading the pack by logging maximum gains. The decentralized finance token surged by as much as 128 percent in five consecutive winning sessions, hitting $56.21, a level it last touched three weeks ago. […]