AAVE Price Gears Up for “High-Probability” Breakout as Justin Sun Begins Accumulating the Token
AAVE price action is showing promising signs of a potential bullish breakout, according to technical analysis. This comes as Justin Sun, founder of TRON, has begun accumulating the token after months of inactivity.
A chart analysis posted by Ali on X reveals a broadening bottom pattern in AAVE price action. This pattern forms through a series of higher highs and lower lows, creating diverging trend lines clearly visible in recent price movements.
The price recently tested the upper resistance trendline and faced rejection, but what’s particularly interesting is the subsequent partial decline. When prices pull back before reaching the lower support trendline, it typically indicates weakening bearish momentum. Historically, a partial decline within a broadening bottom pattern significantly increases the likelihood of a bullish breakout.
Ali notes that this current setup strongly favors bullish continuation, tagging it a high-probability, due to this partial decline pattern. If momentum continues to build, AAVE could see significant upside potential beyond its current resistance levels.
Should the price successfully break above the upper boundary in the $230-$240 range, it could trigger further upside momentum, potentially pushing toward the next resistance levels near $250-$270.
Justin Sun Starts Accumulating AAVE
Spot On Chain reports that Justin Sun has begun accumulating AAVE tokens. Four hours before the report, Sun received 2,500 AAVE tokens worth approximately $535,000 from Poloniex’s multisig wallet.
This marks Sun’s first significant AAVE-related activity in nine months, potentially signaling renewed interest in the token from the influential crypto figure.
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Sun, who founded TRON and its associated blockchain DAO ecosystem including the USDD stablecoin issued by TRON DAO Reserve, also received 250,000 OM tokens valued at $1.72 million in the same transaction.
Spot On Chain notes this is Sun’s first-ever OM accumulation, suggesting a broadening investment strategy from the TRON founder. The timing of Sun’s accumulation alongside the bullish technical pattern could add further momentum to AAVE’s potential upward movement.
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