With the growing uptrend, the AAVE coin price jumps more than 30% in the past few days. However, multiple bearish powers question the uptrend in action.

SEBA, the Switzerland located bank, has submitted an application in the direction of Aave Governance to transfer the liquidity of institutional clients onto the Aave Defi platform. SEBA thinks Aave Arc is a good choice as it offers decent Defi yields and is in compliance with the regulations. 

Let us read what the AAVE technical analysis suggests:
<h2>Past Performance of AAVE</h2>
AAVE coin prices have grown more than 30% in the past ten days as it finds demand near the $160 mark. Moreover, the intraday trading volume jumps more than 175%, with a 12% growth in market cap.

These developments lead to a breakout of the inverted head and shoulder pattern in the daily chart. Therefore, traders can soon see a spark in coin price, making bullish entry at current prices highly desirable.

<img src="https://s3.tradingview.com/snapshots/l/lpAkKn77.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/lpAkKn77/">AAVE/USD Daily Chart</a>
<h2>AAVE Technical Analysis</h2>
The AAVE coin price gives a bullish breakout of an inverted and shoulder pattern in the daily chart. Moreover, the recent formation of bullish engulfing candlesticks hints at a bull run. However, multiple bearish powers are in play that can overturn the recent growth.

The first bearish power is the horizontal resistance levels at $230 and $265. A reversal from any of these levels can result in a downfall to the prominent support level at $160. 

The next bearish power at play is the crucial daily EMAs in the bearish alignment. The 50, 100, and 200 days EMA at $230, $265, and $290 will act as dynamic resistance levels. 

The RSI indicator at 54% shows a gradual rise in slope from the oversold zone in the daily chart. Therefore, putting an end to the bearish downtrend in the RSI.  

The MACD indicator shows a growing distance between the MACD line and the signal line following a bullish crossover is indicative of an upward trend. But, the lines are lower than the zero level and try to surpass it.
<h2>Upcoming Trend</h2>
The uptrend in the AAVE coin price stands against the multiple resistance levels in the daily chart. Therefore, the upcoming trend is doubtful to be extremely bullish, but traders can expect a gradual rise in the next few weeks.

AAVE Technical Analysis: Uptrend Fights Multiple Bearish Allies

With the growing uptrend, the AAVE coin price jumps more than 30% in the past few days. However, multiple bearish powers question the uptrend in action.

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: Uptrend Fights Multiple Bearish Allies

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