Aave Price Prediction: Will AAVE Continue To Rise Upward?

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  • As per Aave Price Prediction (BITSTAMP: AAVE), the coin price decreased by 1.39% over the last 24 hours.
  • The price of the AAVE coin is trading at $72.98 and the 52-week price bound range is $47.20 – $97.75.

Aave used to be called as ETHLend when it was created in November 2017 by Stani Kulechov and raised $16.2 million in an ICO round. ETHLend then reformed its name to Aave in September 2018. Its own token, Aave Price Prediction  (AAVE), was introduced in October 2020 as part of Aave’s efforts to become self-sustaining. After the token’s introduction, a 1:100 token swap must be done from the old token.

Presently, Aave has worked with, joined forces with, and teamed up with 30 companies, including Curve, 1-inch, and Synthetix.

 

As per Coinglass, Aave Price Prediction has $49.29 million Open Interest and recently showed a decline of -9.67% in the last 24 hours. The 24-hour long versus short ratio is 0.9283. The total number of short positions added in the last 24 hours is $40.43K against longs of $311.06K. Moreover, the average volume of the AAVE coin declined by 41.44% and the volume is at $228.311 million.

AAVE
Source: www.coinglass.com

This month the coin performed well as it was up by 18.78%. Also, Aave Price Prediction price was up by 26.04% in the last six months which highlighted good performance over a span of six months. Moreover, the Aave coin price year-to-date return is positive with an increase of 40.10% and the 1-year performance is positive with a 15.15% rise.

Aave Price Prediction Technical Analysis in 1-D Timeframe

As per the price action, it seems the price took support and resistance on the trendline very well. After every fall in the coin, it took support and tried to recover from the trendline. As per price action, the coin achieved a bullish flag pattern and with that, it gave an upward rally, but as observed the price faced rejection from $80.15 and came down to $70.75. However, for the price to show a rally upward the coin must accumulate more buyers by taking time-wise correction or price-wise correction, either by consolidating or by taking a pullback. We can anticipate more upward move only if more volume accumulates.

AVVE
Source: AAVE/USD.1D.BITSTAMP by TradingView

At the time of publishing, the AAVE coin (BITSTAMP: AAVE) price is trading above the 20, 50, and 100-days EMAs (exponential moving average), which is supporting the share price trend.
However, the stock price remains below the 200 EMA. As the price recently fell by facing rejection from the resistance level the price ended up below 200 EMA. Moreover, to thrust the price upwards the coin needs more bull power in the long run to surge over 200 EMA. Therefore, More upward movement is expected in the Salesforce Inc. stock in the forthcoming weeks ahead.

AVVE
Source: AAVE/USD.1D.BITSTAMP by TradingView

The MACD line at 4.10 and the signal line at 2.82 is above the zero line and gave a bullish crossover, suggesting bullish signals. The current value of RSI is 60.54 points and the 14 SMA is above the median line at 61.12 points which indicates an upward direction and bullish sentiment in the market.

Extraction

The Aave price prediction highlights the sentiments and perspectives of investors and traders regarding the AAVE coin price being bullish in the 1-D time frame. The AAVE price action reflects an optimistic view at the time of publishing. Moreover, the technical parameters of the Aave Price Prediction price suggest the continuation of the uptrend over the daily time frame chart. Major legitimate indicators MACD, RSI, and EMA, flaunt positive signals about the AAVE coin price.


Technical Levels:

  • The nearest support: $57.21 and $49.60.
  • The nearest resistance: $81.09 and $92.35.

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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