{"id":6087,"date":"2020-12-15T01:00:34","date_gmt":"2020-12-15T01:00:34","guid":{"rendered":"https:\/\/www.newsbtc.com\/?p=452239"},"modified":"2020-12-15T01:00:34","modified_gmt":"2020-12-15T01:00:34","slug":"aave-monster-is-awakening-breakout-coincides-with-coinbase-listing","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/aave-monster-is-awakening-breakout-coincides-with-coinbase-listing\/","title":{"rendered":"AAVE \u201cMonster\u201d Is Awakening, Breakout Coincides With Coinbase Listing"},"content":{"rendered":"

As altcoins and even Bitcoin take pause, DeFi standout AAVE<\/a> is a “monster” that is now reawakening and ready for new highs, according to one analyst.<\/p>\n

Moments after the analyst’s public call, Coinbase Pro revealed that the DeFi token would be listed on the popular trading platform. If a pair of low-timeframe patterns confirm and push the asset higher, the coinciding Coinbase news could be the catalyst that sends AAVE soaring into full-blown, price discovery mode.<\/p>\n

AAVE And The Two-Headed “Monster”<\/h2>\n

AAVE is the one token in the cryptocurrency market to beat out even Chainlink in 2020 <\/a>– the industry superstar for the last three years running.<\/p>\n

The DeFi token has been around since the crypto bubble and experienced a bear<\/a> market and drawdown just like the rest of the market, yet somehow managed to squeeze out over 7,000% ROI in a single year<\/a>.<\/p>\n

Numbers like that are reminiscent of early Bitcoin bull markets, but the “monster” that is AAVE could only just be getting warmed up.<\/p>\n

AAVE has an even more limited supply than Bitcoin, but there could be arguably more utility thanks to the token being central to DeFi borrowing and lending<\/a>.<\/p>\n

Whatever the reasons, the token has had a beast of a year and after a short nap, one analyst<\/a> says this “monster” is awakening and about to claim new highs.<\/p>\n

DeFi Token Targets New Highs, Coinbase Pro Listing Catalyst For New Momentum<\/h2>\n

A two-headed “monster” made up of two inverse head and shoulders patterns<\/a> could send AAVE to $120 per token. The line on the Relative Strength Index signaling the bearish divergence before each drop also acts as a trend line before each pattern’s breakout.<\/p>\n

\"aave<\/p>\n

A two-headed "monster" could advance to all-time highs | Source: AAVEUSDT on TradingView.com<\/a><\/pre>\n
Another breakout could be here, and the already hot token will be getting some assistance from Coinbase Pro<\/a>.  AAVE is among three other coins the exchange is listing, alongside DeFi brethren Bancor and Synthetix.<\/p>\n
AAVE is already well above its former all-time high set atop the previous bull market and has even confirmed a bullish retest of the resistance level flipped support<\/a>.<\/p>\n
\"aave<\/p>\n
A "monster" cup and handle pattern has formed in the DeFi project | Source: AAVEUSDT on TradingView.com<\/a><\/pre>\n
Zoomed out, the entire downtrend and bear<\/a> market culminated in a rounding pattern, creating what appears to be a massive, three-year-long, cup-and-handle continuation pattern<\/a>.<\/p>\n
Along the way up to form the handle, each level of resistance turned support was marked with a successful retest, and the most important retest of all took place at the low set just a few months ago – right at the former peak price.<\/p>\n
This “monster” has effectively slain the bear<\/a> market and turned full bore bullish. If the summer DeFi<\/a> high has now been – like the asset’s former all-time high before it – flipped into support, price discovery mode is back on for AAVE and as the above analyst claimed, new highs will be in tow.<\/p>\n
Featured image from Deposit Photos, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
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