#Aave (AAVE) Price Breaks Above Long-Term Pattern, What Next?
The price of virtual currency Aave (#AAVE) has increased sharply after breaking out of a long-term pattern and is expected to continue rising in the near term.
This long-term pattern is a symmetrical triangle and after the price broke out of the support line in September 2023, it broke through the resistance area at $86. The potential target of this bullish phase is $153, determined by concatenating the height of the pattern.
The weekly RSI also favors continued growth. However, on the daily chart, there are signs of selling pressure emerging, with long wicks and the daily RSI creating a bearish divergence. Therefore, it is likely that #AAVE price will drop to $100 before making a new breakout.
However, this view will no longer be valid if AAVE price falls below the recent low of $87.35. Note that the information in the article is for informational purposes only and does not constitute investment advice.
FTX and Alameda Research continuously depositing large amounts of assets to exchanges showcases their strong presence and commitment in the crypto market.
๐จ #FTX and #Alameda Research moved out $23.59M worth of 19 assets to #Binance, #Coinbase, #OKX, Galaxy Digital OTC in the past 4 days, including:
3,150 ๐ท$ETH ($6.8M)
59.6M ALEPH ($6.41M)
3.60M ๐ท$CRV ($2.48M)
33,388 ๐ท$AVAX ($990K)
50,282 ๐ท$LINK ($848K)
and $6.07M worth of 14 other assets including PUNDIX, ๐ท$RSR, DOGE, BCH, CHR, ๐ท$AXS, ๐ท$MATIC, ๐ท$UNI, ORBS, FXS, DOT, ๐ท$GMT, 1INCH , and ๐ท$SOL.
In total, FTX and Alameda Research have deposited around $591M worth of 74 tokens to exchanges since October 24.
๐๐ Bullish: Holding above $44,500
๐ป๐ Bearish: Closing below $40,500
Keep your eyes on these key levels for ๐ท$BTC next move!
#BitcoinETF#crypto#Cryptocurency#Bitcoin