Date: Sun, June 15, 2025 | 09:38 AM GMT
The cryptocurrency market has recently experienced a notable pullback, largely driven by rising geopolitical tensions between Israel and Iran. Ethereum (ETH), for instance, has shed over 8% in the past three days and now trades near $2,500. Unsurprisingly, this market-wide volatility has also affected other altcoins, including Aave (AAVE).
Despite trading in the red today, AAVE’s chart is flashing a promising technical signal. A classic bullish retest is underway, suggesting that a potential bounce could be in the cards.
Retesting the Cup and Handle Breakout
On the daily timeframe, AAVE has formed a textbook Cup and Handle pattern — a widely recognized bullish reversal setup that often precedes strong upward moves. The “cup” portion developed between February and late May, beginning with a sharp decline from around $283 and rounding out with a bottom near $114.
After bouncing from the handle’s low near $237, AAVE broke out of the neckline resistance zone above $283 on June 10, pushing the price to a local high of $325.
However, as is often the case with breakout moves—especially in a volatile macro environment—AAVE is now pulling back, retesting the same breakout zone. The current price hovers around $271, sitting right in the low of the neckline support.
What’s Next for AAVE?
If the neckline zone between $268 and $283 holds as support, AAVE could be preparing for its next leg up. The immediate target would be the $379 resistance zone, marked by a historical supply area from previous price action. A successful move above that level would validate the Cup and Handle breakout and unlock the full measured move potential — targeting as high as $438, which would mark a 61% rally from current levels.
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