Evolving Bullish Pennant Boosts Hopes of Recovery

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The lat­est part­ner­ship between Aave and Cen­trifuge could boost bull­ish Aave price pre­dic­tions. The new part­ner­ship to form the real-world asset mar­ket is a col­lab­o­ra­tion between Aave and Cen­trifuge to cre­ate liq­uid­i­ty pools for a new mar­ket­place to allow financ­ing of busi­ness­es using tok­enized assets.

The Real-World Asset (RWA) Mar­ket pro­vides up to sev­en liq­uid­i­ty pools on which liq­uid­i­ty providers can pro­vide dol­lar-denom­i­nat­ed liq­uid­i­ty using deposits of the USDC sta­ble­coin on both the Cen­trifuge and Aave platforms. 

AAVE Price Prediction

The Aave price pre­dic­tion indi­cates a poten­tial for price action to con­tin­ue range-trad­ing between the 278.6 and 251.2 price lev­els. How­ev­er, the price pat­tern is start­ing to form a bull­ish pen­nant, with the poten­tial for an upside break. A break of the 278.6 resis­tance allows 301.0 to come into the pic­ture as a new tar­get. Above this lev­el, 350.4 becomes a new tar­get, with the poten­tial for a pit­stop at 320.0.

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On the oth­er hand, a decline below 251.2 allows 224.8 to come into the pic­ture, with 205.2 and 183.0 serv­ing as addi­tion­al piv­ots if the price dete­ri­o­ra­tion is more extensive.

AAVE/USDT: Daily Chart

Fol­low Eno on Twit­ter.



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