Last week was one of the two separate halves for the Aave price, which initially started with a drop -down slowdown below $ 300. The DEFI piece has since shown strong recovery signs, jumping at $ 340 on Friday January 31.
Based on its latest price configuration, the Aave token seems to be one of the best interpreters on the cryptography market in February. However, a cryptographic analyst said that it may not be a fluid navigation trip for the Aave price in the coming months.
Here’s how Aave could reach its top in this cycle
The eminent crypto merchant Ali Martinez went to the X platform to share an fascinating optimistic projection for the Aave Prix. According to The Pundit, the guest piece could prepare for a rally of more than 6,400% before the end of this current cycle.
This upward prediction is based on the action of the price of the Aave around a TD TD resistance trend (Tom DeMark). The TD sequential indicator is a tool used in technical analysis to identify the exact time of the exhaustion of trends and price reversal for a specific token.
However, the TD sequential indicator can also generate trend lines, which can be used as crucial resistance and support levels for the price. These levels are determined using the extremes of the first candle in the TD sequential configuration phase.
During the last cycle – specifically in 2020, the Aave price violated the line of Trendy resistance TD resistance (represented as blackheads in the graph above). This singular action was followed by a 6,400%rally, which saw Aave reach its current price of $ 661 in 2021.
In the current state of things, the price of Aave tests a line of similar resistance trend around the level of $ 350 on its monthly table. If the price successfully crosses this resistance area – and the story is true, Aave could attend a move at $ 3,500.
Aave Price in the short term?
To date, the Aave price is around $ 337, reflecting an increase of almost 7% in the last 24 hours. According to Coingecko data, Altcoin is down 1% in the last seven days.
Although Aave’s future seems incredibly optimistic, there are certain obstacles that the Défi room may need to overcome earlier than expected. According to Martinez in a separate article on X, the Aave price faces two key resistance zones at $ 243 and $ 365, where investors bought 1.3 million and 971,000 tokens, respectively. Run to a new summit of all time.Binance Academy star image, tradingview graphic
