Aave shows steady price growth, maintaining a bullish market structure after confirming a higher high. The current situation indicates the possibility of further rise.
Market Structure Change of Aave
Aave confirmed its market structure change with a decisive breakout above the previous high. This move signals a trend reversal from bearish to bullish. Although the asset is testing a key resistance zone, any short-term rejection could be part of a healthy correction within a broader uptrend.
Key Support and Resistance Levels
The next key support level lies around $222.90, where the convergence of several technical indicators provides a potential base for the next leg up. This zone includes the 0.618 Fibonacci, an untested bullish order block, and the point of control based on the current volume profile. The presence of multiple layers of support makes this level significant for potential further growth.
Future Forecasts
Even if Aave faces rejection from the current resistance, the bullish market structure remains intact. A healthy pullback to the $222.90 area would provide favorable conditions for trend continuation. If this support level is held, the probability of a rise to $390 remains high.
Aave is at a crucial stage in its price movement, where current support and resistance levels define future prospects. A rise is expected if support at $222.90 is maintained.
