In his latest video, 360 provided a deep dive into AAVE’s market dynamics, suggesting that the blue-chip altcoin is poised for a breakout despite broader market uncertainty. The analysis began with a review of the weekly chart, where 360 pointed out that AAVE has been in a significant accumulation phase since June 2022. According to him, this prolonged accumulation indicates that smart money is positioning itself for a substantial move as the altcoin continues to hold key support levels.
360 dismissed concerns that the current cycle is over, noting that many large-cap altcoins, including AAVE, Quant (QNT), and Algorand (ALGO), are still within their bear market structures. He emphasized that these assets have not yet experienced the explosive rallies seen in other niches, underscoring the potential for future gains.
Highlighting the significance of volume analysis, 360 demonstrated how AAVE has seen strong buying interest at its median support level, even during broader market sell-offs. The trader detailed a false breakout scenario followed by a return to accumulation, suggesting that the current setup could be the real breakout that positions AAVE for a new leg higher.
“We’re seeing AAVE’s resistance turn into support, with clear strength visible above the breakout zone,” 360 explained. He added that while the overall market remains cautious, AAVE’s chart looks exceptionally strong, even amid a generally weak September for cryptocurrencies.
360 concluded by reinforcing his bullish outlook on AAVE, predicting that if market conditions improve, AAVE could lead the charge among altcoins, potentially marking the start of a new market cycle. As always, 360 encouraged viewers to stay updated by subscribing to his channel for more weekly market insights and trade alerts.
With 360’s insights, traders and investors will be keeping a close eye on AAVE, anticipating a potential breakout that could signal broader market momentum for blue-chip altcoins.
