AAVE: Flat Action Points to August Breakout

AAVE could deliver a bullish breakout into August if the next few sessions stay flat, according to Michaël van de Poppe.

The trader notes the token holds above its 21-day and 50-day moving averages near $101 and favors buying dips with extension targets at $125-140.

On the 4h chart AAVE trades at $96.07 inside a bearish structure where the EMA50 at $97.12 caps upside and the EMA200 at $91.34 offers deeper support, RSI sits neutral at 44.6 while the MACD death cross keeps momentum negative; price inside the Bollinger bands makes a push toward the $101.95 upper band the next logical test before any healthy pullback to the 50-EMA.