AAVE Price Prediction: Bulls Display Massive Strength as 25% Rise Appears Imminent, Will the Token Reclaim Yearly Highs?

While Bitcoin continues to juggle around a narrow range, some altcoins like AAVE are displaying massive strength

Bitcoin’s price continues to juggle around a narrow range, displaying indecisiveness as the month comes to a close. However, some altcoins are displaying massive strength despite Bitcoin’s sideways price movement.

The bulls have gained significant strength and hence a notable rise of over 25% appears to be imminent in the next few days. Several altcoins are displaying bullish technicals and upcoming resistances, which may be cleared with the buying pressure.

The AAVE price gained immense strength after the price underwent a parabolic recovery following a rejection of around $145. Although the token failed to clear the yearly highs in its recent attempt, the upcoming rise may offer a fine boost to the growing buying pressure. The price has printed a couple of huge bullish candles and the technicals also remain in their favour, suggesting the token could be primed to close the monthly trade on a bullish note.

September is considered to be a bearish month by traders, especially after observing Bitcoin’s price facing a more than 20% pullback in the past two years. However, the AAVE price, which has gained immense strength, is expected to form a new yearly above $150 anytime from now. With a rise of over 15% in the past couple of days and 8% in the past 24 hours, the price is expected to maintain a healthy uptrend in the coming month.

As seen in the above chart, the AAVE price is about to test the upper resistance zone after completing a parabolic recovery from the lower support. The MACD has displayed a slight rise in bearish pressure but is about to display a bullish crossover. Besides, the +Di & -Di, which were about to undergo a bearish crossover, have detached from each other. Therefore, it substantiates the bullish possibility for the AAVE price rally, which appears to be poised to reclaim the lost levels above $160.

The crypto market has shown some resilience in recent times, holding off further declines and displaying strength in a few altcoins. However, the total market volume has dipped by 0.77% to $66.35 billion. Despite this, AAVE prices are catching eyes with significant price jumps.

After bouncing back strong from a crucial support of $118, the popular DeFi token is setting its sights on $155 and later at a resistance of $183. The RSI and EMA are displaying bullish vibes and hence, the momentum could push AAVE past $200 very soon.

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