The fortitude of the total crypto market cap persists to testify $2.5 trillion market cap on Friday. The crucial supports of the market leaders have been well shielded by bulls. Notably, the Basic Attention Token (BAT), Theta, and AAVE look out to reclaim their previous ATH.
Basic Attention Token (BAT)
BAT price has recently attempted to pass a crucial resistance of $1.3 in order to reclaim the previous ATH. Awfully failed and plunged to the immidiate bottom of $0.92. With the quick surge in trading volume, the token has managed to break a rising wedge, facing a corrective move at $1.08. However, as a 200 day MA hints bullish rally, the altcoin price would initially intersect at a 200 day MA to reach $1.15. On the contrary, the protocol would fall to bottom support of $0.95 with rising in sell-off pressure.
The bulls wrestle to lead an uptrend channel of the Theta fuel’s price action. The price heightened up to $0.35 a couple of days ago yet failed to hold the strength in that range. The ongoing pattern suggests the formation of a falling wedge. In 4 hour chart, sellers seem to have dominated buyers, further rise in selling pressure would confirm the pattern formation, break out from there would uplift the price to initially $0.37 and then directly to $0.4. However, the RSI factor favors a bull run in the next couple of weeks.
The DeFi protocol has been generating a series of higher lows since the start of the quarter. As AAVE price has been traversing within a tight descending channel, breakout looks imminent at $270. Passing the support would initially uplift the price above $300, then with a short breather price would rise up to $415. If the platform succeeds in captivating the attention of a massive user base in the next couple of days, then AAVE price is expected to claim $450 in the short run.
Collectively, the aforementioned altcoins are hovering around their crucial bottom, breakout would erupt a marathon. A majority of the proponents and netizens argue that December is going to be massive for the altcoins. If the above arguments hold true then the above three altcoins could drag the traction of surplus profits.