AAVE prices are under pressure from key support and resistance levels. Traders are focusing on the charts, awaiting the next movement.
Current Situation on AAVE Chart
AAVE price is hovering around $278 after bouncing off its June lows. The token is moving in a well-defined range. It held above key support zones but is struggling to overcome significant resistance levels.
Price Analysis: Support and Resistance
The current resistance zone sits between $310 and $330, which is the level to break. If AAVE can push through with volume, it may aim for $360 next. Support, on the other hand, is positioned between $200 and $220, with the 200-day SMA around $239 strengthening that level.
Future Prospects for AAVE
On the 4-hour chart, AAVE retains a positive trend. The price sits above the 200-period SMA, forming higher lows. If the price stays above $265, bulls still have a chance for further gains. Conversely, a break below support may shift focus back to the $240 zone.
Currently, AAVE price finds itself at a crossroads between support and resistance. Traders are closely monitoring the situation, anticipating potential movement in either direction.
