AAVE's Latest Rejection at $146 Resistance

Aave's recent attempt to break above the critical $146 resistance level was thwarted, marking another rejection at this pivotal point. Crypto analyst Rekt Capital highlighted the importance of closing above $146 for a bullish breakout, but this crucial weekly close was missed, suggesting AAVE is not yet ready for a sustained rally.

The $146 Resistance: A Significant Barrier

The $146 price point has been a significant barrier since early 2022, with multiple failed attempts to close above it. The latest rejection signals the continued challenge for buyers, raising concerns that the market could remain range-bound for the near future.

Potential Consolidation Phase Ahead

Following the latest rejection, analysts are predicting a potential consolidation phase for AAVE. The price may remain between the $111 support level and the $146 resistance, which has proven difficult to break. This consolidation could see AAVE trading within this range until a decisive move either above resistance or below support occurs.

Source: https://ambcrypto.com/aave-is-146-the-make-or-break-point-for-aaves-price-rally/

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