FTM and AAVE Price Analysis: Feared Rally Lose Grip as AAVE Price is Poised to Trigger a 10% Rise

Regardless of the recent price actions, the altcoins are managing to reclaim the lost levels by maintaining a decent ascending trend

Recent price actions show that altcoins are trying to regain lost ground with a gradual ascending trend.

While Fantom (FTM) may struggle to sustain its rally, Aave (AAVE) is expected to see a 10% rise towards a resistance level.

Markets have been volatile since a major crash since the beginning of the month, and even though the bulls have shown considerable strength since then, they have been able to keep their tokens above profit. No. As a result, the crypto space is heating up as bears are frequently withdrawing profits and traders are becoming uncertain about future trends.

Among the top altcoins, Phantom (FTM) is showing good movement northward. This move triggers a bullish outlook on the token, with the next bullish move expected to see him recapture $0.5. Unfortunately, this altcoin is about to form another lower high. That's because the rally's momentum has been crushed ever since it was rejected near the $1 level. The bullish outlook creates some room, but the possibility of another 20% pullback threatens the rally.

The daily chart of FTM price shows that the price is trading within a descending parallel channel. Both price and RSI failed to break above the average bands of their respective channels, indicating increasing bearish pressure on the token. Furthermore, the previously bullish DMI is showing bearish signs as +DI is about to undergo a bearish divergence. So, while the phantom price may be rejected as the current trading setup suggests, the bearish narrative may be delayed for some time if channel resistance is reached.

AAVE price shows great strength

Meanwhile, FTM price is trading within a descending channel, while AAVE price remains trading within an ascending parallel channel. After rising from the support at $90, the price maintains a steep uptrend. The current trading setup suggests that AAVE price will hit key resistance at $120 at any point in the future, activating the upper bound target.

As shown in the chart above, AAVE price has maintained an uptrend since triggering a recovery after its April crash. The buying volume has increased and the RSI is within the upper band, increasing the chances of reaching the higher target. Furthermore, as the selling pressure subsides, the MACD turns slightly bullish, indicating a V-shaped recovery reaching resistance at $120. The price has also been rising through a key resistance zone and is expected to break out of the channel and reach $130 in the coming days.

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