Technical analysis by StevenWalgenbach about Symbol AAVE: Buy recommendation (1/20/2025)

AAVEUSDT is showing signs of bullish continuation on the 1-hour chart, with prices approaching the critical resistance zone at $353.55. A successful breach could lead to further gains toward $355.81 and $359.32, while support at $344.85 and $339.71 offers a buffer against downside risks.The MACD histogram's sharp ascent into bullish territory reflects increasing buying pressure, and RSI levels suggest the market is approaching, but not yet overbought, conditions. This makes the current setup favorable for bulls, with cautious optimism for further price appreciation.Long trades could target entries near $344.85, with stops just below $339.71 and profit targets around $355.81. Short positions might aim for quick reversals near resistance, with exits near the support levels.