<strong><em>AAVE price action teases a reversal from $70 to challenge the 50-day SMA and give a bullish breakout. Should you consider buying at $70?</em></strong>

<strong>Key technical points: </strong>
<ul>
 	<li>AAVE prices have increased by 0.94% in the last 24 hours.</li>
 	<li>The price action prepares a bullish breakout of the cup and handles with the neckline coinciding with the 50-day SMA.</li>
 	<li>The 24-hour trading volume of AAVE is $256 Million, indicating a rise of 23%.</li>
</ul>
Past Performance of AAVE

The <a href="https://www.cryptoknowmics.com/news/aave-price-prediction-what-will-happen-to-aave-in-2022/">AAVE price</a> action shows a rounding bottom reversal from the psychological mark of $50. This accounts for a 50% jump in the early days of July and brings the falling wedge breakout. However, the market price shows a potential cup and handle forming as the prices retrace from the 50-day SMA to take support at the $70 mark.

<img src="https://s3.tradingview.com/snapshots/t/TONLAbKO.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/TONLAbKO/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">AAVE Technical Analysis </span></h2>
AAVE price action shows a potential morning star pattern forming at the support level of $70, which attempts to complete the handle portion of the bullish pattern. Hence traders can expect the bullish reversal rally to challenge the 50day SMA with a jump of 16%.

The MACD indicator shows the fast and slow line slowing below the zero line leading to a lateral trend, increasing the bearish crossover possibility. In addition, the declining trend in the histograms backs the bearish crossover possibility, but a positive bullish pattern breakout will avoid any such events.

The RSI indicator shows a sudden drop in the underlying bullishness as it dips at the halfway line and avoids teasing the 14-day SMA. Supporting the bearish team, the 50-day SMA acts as a dynamic oppressor to keep the bullish growth in check.

In a nutshell, the AAVE technical analysis displays a bearish takeover attempt that buyers can avoid with the 50-day SMA breakout.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
If the AAVE prices sustain above the $70 support level, traders can expect the $76 breakout rally to reach $100. Conversely, a bearish reversal from the 50-day SMA will break the $70 mark to test the psychological mark of $50.

<strong>Resistance Levels:</strong> $76 and $100

<strong>Support Levels:</strong> $70 and $50

AAVE Technical Analysis: Can AAVE Buyers Exceed The 50-day Average?

AAVE Technical Analysis shows price action teasing a reversal from $70 to challenge the 50-day SMA and give a bullish breakout.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AAVE Technical Analysis: Can AAVE Buyers Exceed The 50-day Average?

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