The price of AAVE rocketed over 103% after bottoming at $45.60 on June 18 to almost $95.50 on July 15. It has been up by 25.15% in the last seven days. Aave’s sharp uptrend brought the price closer to the level that had triggered sharp pullbacks since early June.
It is currently dominating the cryptocurrency market with a market dominance of 3.27%. Bulls pushed the price from $90.05 to the highs of $92.45 in just a few hours. At the time of writing this article, Aave was trading at $88.96. It lost 3.67% of its value in the last hour, but gained 6.48% in 24 hours, as per data from CoinMarketCap. After a brief dip, the bulls managed to regain control and pushed the Aave’s price higher.
In the past week, Aave has seen price fluctuation between the $77.66 and $93.83 levels. The price surge took the price to the upper limit of the consolidation range. A further move up may come about in the near term. A breakdown below $67.75 could fling Aave down as much as the height of the flagpole that formed below the bear flag. If that happens, the token could slip to the lows of $35.50 down over 60% from the current price. Analysts say a continued rebound above the bear flag’s upper trendline would invalidate the breakdown setup. As such, the bullish target for Aave will be the $115 – $120 range that served as resistance in June.