Aave Price Analysis: AAVE Up By 2.41%, Time to Buy?


  • Aave currently trades near $94.70
  • The EMA(50) is currently at $79.43.
  • Aave has a medium term resistance at $87.86.
  • The price of Aave rose by 2.41% in the previous 24 hours.

22 April 2024 : In this article we will walk you through Aave price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Aave, Is AAVE a good investment? Aave support & resistance levels etc. But before diving deep into the AAVE technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,433,728,368,317. The total trading volume stands at $64,353,620,835. Bitcoin shares 53.55 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price rising to $66,182.56 level after an upward movement of 1.71%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.19 percent reaching to $3,218.78 during the previous 24 hours.
While publishing this blog, BNB traded at $604.22, following a price change of 4.34% within the same time frame. SOL the native coin of Solana is up by 1.95 and currently trading at $154.35. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Aave Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Aave (AAVE)

AAVE Resistance Levels AAVE Support Levels
Resistance Level 1 $81.15 Support Level 1 $66.34
Resistance Level 2 $87.86 Support Level 2 $58.24
Resistance Level 3 $95.96 Support Level 3 $51.53

Aave Performance

According to PriceAnalysis Market Index, Aave (AAVE) is trading at $94.70 with a trading volume of $73,994,946.00. However,AAVE has seen a price increase of 2.41% in the last 24 hours.AAVE price changes 4.3% over the week with a total market capitalization of $1,402,208,103.00 USD.

Aave Price Analysis

AAVE price analysis for 22 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Aave.

Moving Averages Price Indicator
Simple Moving Average (10) 74.18 Buy
Exponential Moving Average (10) 75.06 Buy
Simple Moving Average (20) 75.09 Buy
Exponential Moving Average (20) 75.46 Buy
Simple Moving Average (50) 79.45 Buy
Exponential Moving Average (50) 79.43 Buy

While AAVE’s Williams %R indicator is at -9.711 for the 14-day time period indicating a overbought condition and short term trend price correction is possible. The Relative strength index (RSI) for AAVE Coin is currently hovering at 50 for 14-days average line, which means AAVE is in consolidation zone right now. The AAVE/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term buy signal as the MACD line is moving above Signal Line Which means bulls are dominating in the market.

Conclusions

According to our technical analysis data, the short-term forecast for the Aave price is mostly bullish at the time of writing. The cryptocurrency Aave seems to be on the rise again. A significant return-on-investment (ROI) is predicted if you acquired the currency some time back.