Aave Price Analysis: Will AAVE Surge to hit $80.20


  • AAVE/USD medium term support stood at $68.21.
  • Aave has a medium term resistance at $84.65.
  • AAVE’s intraday volume stands at $79,445,337.00.
  • Aave is presently valued at $74.90

03 October 2022 : 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 -1.34 percent, bringing the entire cryptocurrency market to $942,583,128,025. The total trading volume stands at $56,002,898,106. Bitcoin shares 39.88 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,611.99 level after an upward movement of 2.16%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 1.95 percent reaching to $1,320.89 during the previous 24 hours.
While publishing this blog, BNB traded at $287.88, following a price change of 1.31% within the same time frame. XRP the native coin of XRP is down by -0.37 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.33% 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 $80.20 Support Level 1 $71.98
Resistance Level 2 $84.65 Support Level 2 $68.21
Resistance Level 3 $88.42 Support Level 3 $63.76

Aave Performance

According to PriceAnalysis Market Index, Aave (AAVE) is trading at $74.90 with a trading volume of $79,445,337.00. However,AAVE has seen a price increase of 1.21% in the last 24 hours.AAVE price changes -0.61% over the week with a total market capitalization of $1,055,592,728.00 USD.

Aave Price Analysis

AAVE price analysis for 03 October 2022 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) 75.58 Sell
Exponential Moving Average (10) 75.37 Sell
Simple Moving Average (20) 76.69 Sell
Exponential Moving Average (20) 76.48 Sell
Simple Moving Average (50) 85.36 Sell
Exponential Moving Average (50) 84.93 Sell

RSI implying near overbought phase while trading at 53 and is trying to break out of the neutrality zone. While AAVE’s Williams %R indicator is at -61.101 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. 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. The immediate resistance for AAVE is found at $80.20, and a breakout from this level could leads towards the next resistance, which can be found at $84.65. On the other hand, if the bear take control and AAVE price fails to break out above $80.20, it could fall back towards the crucial support at $71.98.

Conclusions

AAVE price is moving in sideways direction. The battle between the bulls and the bears can result in moving the coin price in either direction. However, The investors are waiting for Aave to make a one directional move to make a good entry in the market.