The post Here’s What’s Next for Aave (AAVE) & Avalanche (AVAX) Prices Until the End of the Month appeared first on Coinpedia Fintech News
The crypto markets maintain significant strength as the trade is heading towards the end of the month. Although the volatility has not reached the required levels, the majority of the tokens are displaying their preparedness to reclaim the yearly highs. Among them are Aave & Avalanche, which have risen after a pretty long consolidation.
Aave (AAVE) Aims at a 40% Rise After a Breakout
Ever since the AAVE price dropped from the highs during the 2021 bull run, the trend has remained restricted below $110 for more than 30 months. However, the bullish start of the week has elevated the levels beyond the pattern and set up a strong path to reclaim the lost levels. Presently, the AAVE price is advancing to test the interim resistance at $145 and a breach above the yearly highs may offer a fine push towards the higher targets.
The consolidated rise within the parallel channel has displayed the growing power of the bulls, which has flipped the trend of the rally. The OBV, or on-balance volume, displaying huge variation, has now reached the upper threshold. If the levels remain parallel to the upper threshold, the AAVE price may enter a fine bullish trend; otherwise, a deviation could trigger a rejection. However, considering the current trade setup, the AAVE price is expected to rise above $145 and, after a small pullback, resume its upswing to test higher targets.
Avalanche (AVAX) Price is Preparing for a Breakout to Reach $30
Being a little different from the AAVE price rally, the AVAX price is stuck within a descending parallel channel. The price is constantly forming lower highs and lows, indicating the presence of bearish dominance over the rally. However, another bullish push of over 15% may validate a trend reversal, which may initiate a fresh upswing soon.
After the latest rejection from the resistance of the channel, the price underwent a parabolic recovery and is an inch close to testing these levels. The DMI or direct movement index, is a trend indicator that is about to flash bullish signals as +Di & -Di are heading towards a bullish crossover. With this, the price is expected to reach the resistance of the channel at $26.34, surpassing the supertrend levels. This move may flip the supertrend into bullish which may activate the upper target beyond $30.