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AAVE Stalls at Key Resistance: Will Bulls Break $400 or Will Bears Take Control?
The cryptocurrency market has been subject to intense volatility in recent times, and the current state of AAVE is a testament to this. The asset’s failure to break through key resistance has led to bearish pressure taking center stage.
As the price hovers around $337.26, it appears that AAVE is struggling to gain traction. The rejection near the $357.83 and $419.01 zones signals a concerning trend for investors. Despite this, there are still opportunities to be seized.
The asset’s current structure suggests a balance between bearish retracements and bullish momentum. This could potentially lead to an ascending trendline from mid-November supporting a surge towards $500. However, it is crucial to monitor lower support zones and consolidation levels for future price action clues.
In the midst of this uncertainty, it is essential for traders to remain vigilant and adapt their strategies accordingly. The market’s unpredictability means that even the slightest misstep can result in significant losses.
Source: cryptonewsland.com
