{"id":94329,"date":"2023-02-13T15:42:56","date_gmt":"2023-02-13T15:42:56","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/02\/13\/aave-price-jumps-8-is-this-rally-a-bull-trap-crypto-news\/"},"modified":"2023-02-13T15:42:58","modified_gmt":"2023-02-13T15:42:58","slug":"aave-price-jumps-8-is-this-rally-a-bull-trap-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aave-price-jumps-8-is-this-rally-a-bull-trap-crypto-news\/","title":{"rendered":"Aave Price Jumps 8%;  Is This Rally A Bull Trap?\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-138652\">\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"671\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/01\/25001345\/aave-e1656427611758.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"AAVE\" decoding=\"async\"\/><\/noscript><\/div>\n<p class=\"MarketsUp f-14 d-block\">Published 10 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">The past three months&#8217; price action <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/aave\/\">AAVE coin price<\/a> showed a simple formation of the cup and handle pattern.  However, amid the recent sell-off, the AAVE price lost a crucial support of $80, indicating the bullish pattern got invalidated.  Anyhow, a sudden price jump today to $80 questions the credibility of the aforementioned breakdown.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<h2><b>Key Points:<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"> A bullish breakout from the $80 barrier could set the AAVE price to reach the $97 mark.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If the daily candle closing remains below $80, the holders may witness an extended correction.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in AAVE is $188.8 Million, indicating a 293% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><strong><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Avee Price\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/p\/pNjTnQEE.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/p\/pNjTnQEE.png\" alt=\"Avee Price\" width=\"1946\" height=\"1104\"\/><\/noscript><\/strong>Source- <\/span><span style=\"font-weight: 400;\">tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The last three-week consolidation phase was part of this bullish pattern, which should have replenished bullish momentum for future gains.  However, with the increasing negativity in the market, the AAVE price breached the $80 support, weakening the aforementioned bullish thesis.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Anyhow, today, the AAVE price witnessed a significant inflow and pushed the prices back above the $80 mark.  If the daily candle closes above the mentioned level, the prior breakdown will be considered a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/what-is-a-bear-trap-in-crypto-and-how-does-it-work-beginners-guide\/\">bear trap<\/a> or a fake breakdown.  Furthermore, the aggressive short-sellers who entered the market may face forced liquidation and thus increase the buying orders in the market.  If this happens, the bullish thesis will remain intact and so does the cup and handle pattern.<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/defi-lending-platforms\/\">Top 10 DeFi Lending Platforms In 2023<\/a><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, if the coin price remains below the $80 mark, the sellers will get an additional confirmation for price sustainability at a lower level and may trigger a longer correction phase.  The potential downside may reach the $66.5 support.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thus, the coin holders should wait for today&#8217;s daily candle closing as it may significantly influence the AAVE price&#8217;s near future.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">technical indicators<\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><strong>EMA&#8217;s<\/strong>: the flattish daily EMAs(20, 50, 100 and 200) signals a sideways trendline in the market <\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.59 --><\/p>\n<p><span style=\"font-weight: 400;\"><strong>RSI<\/strong>: The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">Relative Strength Index (RSI)<\/a> is a popular oscillator technical indicator used to measure the strength of an asset&#8217;s price movement.  Thus, a steady downfall from the RSI slope below the midline indicates the negative sentiment in the market is rising.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">AAVE Coin Price Intraday Level<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Spot Price: $81.8<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Trend: Bullish<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Volatility: Moderate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Resistance levels: $97 and $116<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Support levels: $80 and $71<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA138652\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  raech out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=60&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=120&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD138652\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>                <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 10 minutes ago The past three months&#8217; price action AAVE coin price showed a simple formation of the cup and handle pattern. However, amid the recent sell-off, the AAVE price lost a crucial support of $80, indicating the bullish pattern got invalidated. Anyhow, a sudden price jump today to $80 questions the credibility of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":94330,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-94329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/94329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=94329"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/94329\/revisions"}],"predecessor-version":[{"id":94331,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/94329\/revisions\/94331"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/94330"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=94329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=94329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=94329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}