{"id":113837,"date":"2024-10-13T23:42:47","date_gmt":"2024-10-13T16:42:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=113837"},"modified":"2024-10-13T23:42:47","modified_gmt":"2024-10-13T16:42:47","slug":"mixed-signals-for-aave-is-a-170-breakout-likely","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=113837","title":{"rendered":"Mixed signals for AAVE &#8211; Is a $170 breakout likely?"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li><em><span style=\"font-weight: 400;\">AAVE has broken above the midline of an ascending channel after a nearly 7% gain.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Despite a spike in exchange outflows, technical indicators show the trend is yet to flip bullish.<\/span><\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/aave-takes-67-of-defi-lending-market-as-gho-soars-what-now\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">AAVE [AAVE]<\/span><\/a><span style=\"font-weight: 400;\"> rebounded over the weekend after China\u2019s new economic stimulus spurred gains across the cryptocurrency market. In the last 24 hours, AAVE gained nearly 7% to trade at $154 at press time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These gains saw the token recover from a <\/span><a href=\"https:\/\/ambcrypto.com\/aave-drops-8-in-october-assessing-the-altcoins-road-ahead\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">suppressed performance<\/span><\/a><span style=\"font-weight: 400;\"> earlier in the week. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Following this uptrend, AAVE broke out of the midline of its ascending parallel channel on the one-day chart, suggesting that bulls are gaining strength. <\/span><\/p>\n<div id=\"attachment_432639\" style=\"width: 1791px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432639\" class=\"wp-image-432639 size-full\" alt=\"\" width=\"1781\" height=\"799\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06.png 1781w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06-300x135.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06-1024x459.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06-768x345.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06-1536x689.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06-1200x538.png 1200w\" data-lazy-sizes=\"(max-width: 1781px) 100vw, 1781px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432639\" class=\"wp-image-432639 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06.png\" alt=\"\" width=\"1781\" height=\"799\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06.png 1781w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06-300x135.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06-1024x459.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06-768x345.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06-1536x689.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-31-06-1200x538.png 1200w\" sizes=\"auto, (max-width: 1781px) 100vw, 1781px\"\/><\/a><\/p>\n<p id=\"caption-attachment-432639\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">For AAVE to break the upper boundary of this channel, it needs buyer support. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The three green consecutive volume histogram bars show that buyers have been in control of the price action.<\/span><span style=\"font-weight: 400;\"> This supported AAVE\u2019s breakout above the midline.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, the on-balance volume (OBV) indicator has been sloping upwards. This indicator also crossed above the smoothing line, which shows that the crowd is turning bullish.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For AAVE to break out above the ascending channel and confirm the bullish thesis, it needs to overcome resistance at the 0.236 Fibonacci level ($170).<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Conversely, this pattern will be invalidated if the price drops below support at $134.\u00a0<\/span><\/p>\n<h2><strong>AAVE exchange outflow data is bullish\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Buyers could continue overwhelming sellers as exchange inflow data shows traders are withdrawing their AAVE from exchanges at a high rate. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the 12th of October, exchange outflows reached a one-month high, showing an unwillingness to sell. <\/span><\/p>\n<div id=\"attachment_432641\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432641\" class=\"size-full wp-image-432641\" alt=\"\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-2048x1152.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-1200x675.png 1200w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432641\" class=\"size-full wp-image-432641\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges.png\" alt=\"\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-2048x1152.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Aave-Exchange-Outflow-Total-Spot-Exchanges-1200x675.png 1200w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\"\/><\/a><\/p>\n<p id=\"caption-attachment-432641\" class=\"wp-caption-text\">Source: CryptoQuant<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">If more traders are withdrawing their tokens from exchanges, it relieves the short-term selling pressure, paving the way for a strong bullish trend.\u00a0<\/span><\/p>\n<h2><strong>These technical indicators are bearish\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">A look at the Chaikin Money Flow (CMF) shows that capital is still flowing out of AAVE. At press time, the CMF had a score of -0.17. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This indicator has also been forming lower lows despite the price gain, indicating that the current trend is weak.<\/span><\/p>\n<div id=\"attachment_432644\" style=\"width: 1791px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432644\" class=\"size-full wp-image-432644\" alt=\"\" width=\"1781\" height=\"799\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42.png 1781w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42-300x135.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42-1024x459.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42-768x345.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42-1536x689.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42-1200x538.png 1200w\" data-lazy-sizes=\"(max-width: 1781px) 100vw, 1781px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432644\" class=\"size-full wp-image-432644\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42.png\" alt=\"\" width=\"1781\" height=\"799\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42.png 1781w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42-300x135.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42-1024x459.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42-768x345.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42-1536x689.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVEUSDT_2024-10-13_09-54-42-1200x538.png 1200w\" sizes=\"auto, (max-width: 1781px) 100vw, 1781px\"\/><\/a><\/p>\n<p id=\"caption-attachment-432644\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">The Moving Average Convergence Divergence (MACD) is sitting below the signal line, which also shows a bearish bias. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the MACD line is tipping north, and if it crosses above the signal line, it will confirm that the altcoin has entered an uptrend.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">A look at the Long\/Short Ratio\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The long\/short ratio on <a href=\"https:\/\/www.coinglass.com\/currencies\/AAVE\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\">Coinglass<\/a> shows that derivative traders are bearish. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the last 24 hours, this ratio has dropped from a neutral level of 1 to 0.87, suggesting that market participants are not convinced about a sustained uptrend.\u00a0<\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/aave-price-prediction\" data-wpel-link=\"internal\">Aave\u2019s [AAVE] Price Prediction<\/a> 2024\u20132025<\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">On Binance, the accounts taking long positions have dropped drastically, from 60% to 47%. At the same time, short accounts on AAVE have increased from 39% to 52%.\u00a0<\/span><\/p>\n<div id=\"attachment_432647\" style=\"width: 1858px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432647\" class=\"size-full wp-image-432647\" alt=\"\" width=\"1848\" height=\"478\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short.png 1848w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short-300x78.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short-1024x265.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short-768x199.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short-1536x397.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short-1200x310.png 1200w\" data-lazy-sizes=\"(max-width: 1848px) 100vw, 1848px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-432647\" class=\"size-full wp-image-432647\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short.png\" alt=\"\" width=\"1848\" height=\"478\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short.png 1848w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short-300x78.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short-1024x265.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short-768x199.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short-1536x397.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/AAVE-long-short-1200x310.png 1200w\" sizes=\"auto, (max-width: 1848px) 100vw, 1848px\"\/><\/a><\/p>\n<p id=\"caption-attachment-432647\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">The changes in this ratio show that after AAVE started gaining, traders increased their short positions, showing conviction that the uptrend could fail.<\/span><\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\nNext: <a href=\"https:\/\/ambcrypto.com\/how-bitcoins-pullback-to-60k-will-help-pepe\/\" rel=\"prev\" data-wpel-link=\"internal\">How Bitcoin\u2019s pullback to $60K will help PEPE<\/a> <\/div>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/mixed-signals-for-aave-is-a-170-breakout-likely\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>AAVE has broken above the midline of an ascending channel after a nearly 7% gain. Despite a spike in exchange outflows, technical indicators show the trend is yet to flip &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=113837\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-113837","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/113837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=113837"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/113837\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=113837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=113837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=113837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}