Technical analysis by DamithFX about Symbol AAVE: Buy recommendation (11/4/2023)

AAVE, the native token of the AAVE lending and borrowing protocol, has been in a prolonged consolidation phase since May 2022, fluctuating within the $45 to $95 price range. This extended period of consolidation indicates that AAVE is building up potential energy for a significant price move. On November 2, 2023, AAVE made an attempt to break out of this range but was unsuccessful. However, given the prevailing bullish sentiment in the crypto market, there is a strong possibility of a retest, making it a promising opportunity for a long trade.