The markets are slowly softening towards altcoins as the flow of liquidity from Bitcoin to the other cryptos appears to have started. More than the recent ones, the older tokens are receiving more attention. Tokens like Aave & Hedera have attracted massive volume, indicating that a nice increase of over 25% could be approaching quickly.
Aave Tests the neckline of a bullish pattern
The AAVE price had broken out of a long-term bullish pattern and after a small retracement, the uptrend has been renewed. The bulls are gathering strength along major resistance and a breakout from the current range could pave the way for a new ATH in the first few days of 2025.
AAVE’s short-term price action suggests huge potential to surpass the crucial USD 400 resistance. The token has broken the Adam & Eve pattern and caused a rise of more than 10%, followed by a horizontal consolidation. The stochastic RSI has reached the oversold zone and is preparing for a recovery, while the MACD is about to undergo a bearish crossover. Therefore, the price could be somewhat correct below $370, which could trigger a strong rebound that could take the level above $400 and reach $420 very soon.
Hedera (HBAR) price aims to reach $0.35
HBAR price slowly rises towards cycle highs during times when markets remain sluggish. Meanwhile, the bears managed to keep the rally below $0.3 for a while, but the current breakout suggests a big rebound is imminent, indicating a new ATH could be on the way.
The HBAR price has broken the bearish wedge pattern in the short term and is continuously printing bullish candles. The RSI is incremental, while the Ichimoku cloud has just turned bullish. Therefore, it is believed that the price will maintain a healthy rebound to regain the lost levels at $0.38, which could push the price further above $0.4 before the end of the year. This could increase the Hedera price