DeFi token AAVE faces major correction after soaring 100% in a month
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The price of Aave (AAVE) has more than doubled in a month, but its bullish momentum could be reaching a point of exhaustion. AAVE price tests key inflection level Notably, AAVE has surged by over 103% after bottoming out locally at $45.60 on June 18, hitting almost $95.50 this July 15. Nevertheless, the token’s sharp upside retracement move has brought its price closer to the level that triggered equally sharp pullbacks since early June. In other words, AAVE has been testing an ascending trendline resistance that constitutes a “bear flag,” a bearish continuation pattern. For example, the trendline’s previous test on
AAVE, the native token of the eponymous DeFi platform, rallied past its peers in 24 hours as traders reacted positively to the platform’s recent version three update. The token’s surge coincided with... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]…
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Aave (AAVE) seems to be in a correction trend over the past week. Amid this correction and market volatility, crypto whales have displayed heightened interest in the coin. This is according to the latest data shared by crypto trader Ali Martinez. Whales acquire 62 million Aave tokens AAVE prices have…