Cryptocurrencies Price Prediction: Aave, Hyperliquid & Bitcoin — Asian Wrap 07 January
Aave Price Forecast: AAVE eyes bullish breakout as on-chain and derivatives data turns supportive
Aave (AAVE) price hovers around $172 on Wednesday, nearing the upper trendline of the falling parallel channel pattern. A break above this technical pattern favors the bulls. Supporting this bullish setup, on-chain and derivatives metrics indicate improving market sentiment, hinting at a potential near-term breakout.
Hyperliquid Price Forecast: HYPE consolidates below 50-day EMA as bullish bias strengthens
Hyperliquid (HYPE) experiences a pullback of over 1% at press time on Wednesday, struggling to extend the breakout rally of a resistance trendline. Derivatives data suggests a buy-side dominance among traders, as capital inflows align with positive funding rates and increased interest from large wallet investors, commonly referred to as whales. The technical outlook for HYPE focuses on the overhead 50-day Exponential Moving Average (EMA) near $30.00 as a crucial resistance.
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP cool off as rally stalls near key resistance zones
Bitcoin price closed above the upper consolidation range of $90,000 on Saturday. BTC rose nearly 4%, retesting the 61.8% Fibonacci retracement level (drawn from the April low of $74,508 to October's all-time high of $126,199) at $94,253 on Monday. However, the rally paused on Tuesday as BTC struggled to close above this resistance level. As of Wednesday, BTC is trading slightly down at around $92,700. If BTC closes above the $94,253 resistance, it could extend the rally toward the key psychological level at $100,000.
Author
FXStreet Team
FXStreet
