The explosive rally of Aave has crossed multiple levels of resistance with the increase in the volume of negotiation, especially during the end of evening hours when it exceeded the psychological barrier of $ 250.
The cryptocurrency has established support of around $ 240 while consolidating itself above $ 263, suggesting an additional increase in movement as institutional interest increases in the middle of broader market developments.
This performance occurs while Bitcoin approaches new heights of all time and public enterprises continue to increase their cryptocurrency participations, companies like Strategy Corp planning to collect $ 84 billion for Bitcoin purchases.
Strengths of technical analysis
- Clear of the upward trend formation with higher and highest ups, breaking the multiple resistance levels with an increasing volume, according to the Technical Analysis Data model of Coindesk Research.
- Explosive price action between 23: 00-02: 00, the volume culminating at 232,392 units while Aave crossed the psychological barrier of $ 250.
- Support has established around $ 240, with $ 267.656 serving as immediate resistance.
- Consolidation behavior between $ 262.120 and $ 267.540 in the last hour, with notable volatility around 02:47.
- The volume culminated during candles 02:42 and 02:50, suggesting institutional interest at these levels.
- Higher training of patterns since 03:19, with a recent passage from $ 263.566 to $ 264.776 to 03:27 indicating a renewed purchase pressure.
- Price establishing a base greater than $ 263 before contesting the resistance level of $ 2,67.656 again.
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