With the BTC price retesting its $65k level, mid-cap and low-cap altcoins have recorded a massive uptrend in their respective portfolios over the past few days. This highlights a rising interest of investors in the altcoin market.
Will the mid-cap altcoins storm the market and kickstart the prolonged AltSeason during the upcoming weeks? Or is the crypto market on the brink of facing a major price correction this month?
Gala (GALA) Price Action
Despite trading within a consolidated range, the Gala price has added 4.71% to its value with a trading volume of $75.26 million. Moreover, it has jumped 7.14% over the past seven days and 23.28% during the past 30 days. This highlights a long-term bullish action.
The EMA 50-day constantly supports the price chart in the 1D time frame. This indicates a constant bullish sentiment for the altcoin in the crypto market. Moreover, the RSI indicator is constantly headed toward its overbought range, suggesting a positive outlook.
If the bullish sentiments sustain, this could result in the price retesting its resistance level of $0.02675. However, a bearish action could result in it retesting its crucial low of $0.01375.
Aave (AAVE) Price Action
With increased volatility, the Aave price has jumped 5.83% in the past day and ~10% over the past week. Moreover, it has surged 16.73% during the past month and has given its investors a YTD return of 48.42%.
The MACD indicator has successfully recorded a bullish convergence in the AAVE price chart. Moreover, the SMA shows a positive curve in the 1D time frame. This suggests that the AAVE coin price will continue gaining value in the coming time.
Maintaining the AAVE price above its support level of $160 could set the stage for it to head toward its resistance level of $180. On the flip side, if the bears regain control, the altcoin could retest its lower support level of $138.75.
Also, read Aave (AAVE) Price Prediction 2024 – 2030
