Over the past week, we have seen strong Aave performance, with its price gaining 2.20%. This growth rate outpaced the growth of the other cryptocurrencies in the Polygon ecosystem, which stagnated through the same period.
If it breaks out of its current bullish pennant pattern, World of Charts suggests that it would not be a stretch to see Aave well past $200 in the coming days.
Analyst Eyes Bullish Breakout in Aave
Analyst World of Charts has identified a bullish pennant pattern forming in Aave’s price action, signaling a breakout. This is a very common setup, which a lot of traders consider a buildup to a substantial price movement. Speculations hint the crypto can reach $200 in the near future.
This analysis has further credibility due to a similar past scenario that saw Aave rally by 45% as it broke out of a similar pattern. World of Charts believes that if the breakout comes to full fruition, it could hit $220.
Source: X
Aave’s ongoing consolidation within the
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