Crypto Technical Analysis

Aave (AAVE) Technical Analysis: AAVE Price Trying Hard for A 15% Jump!

AAVE Technical Analysis

Key Takeaways

  • Aave price closed the previous day’s trade at $153.9 with a market capitalization of $2.12 billion and a circulating supply of 13,652,948.04 AAVE
  • The price currently swinging around some pivotal zones where-in a breakout is expected that may uplift the price above $200 initially

Aave (AAVE) Technical-Analysis for Today: 22 March 2022

The AAVE price after a gigantic rally towards the strong resistance levels is struggling hard to slice through these levels to settle high. Constant rejections at these levels are weakening the rally which is attracting the bears to act accordingly. No doubt the buying volume is pretty high but also the selling volume currently is sufficient to nullify it.

At the press time, the AAVE price is yet again attempting to breach through the resistance levels. But the selling pressure is mounting slowly which is compelling the price to get rejected once again. Yet the levels above $165 may be sealed before the day’s close and if the price managed to hit $170 then the next day’s start could be bullish. 

Aave (AAVE) Technical Analysis at a Glance

The price after a strong uptrend in the recent past managed to hold the gained levels above $150 despite a couple of minor pullbacks. The selling volume remained high compared to that of the buying which managed to keep up the bullish momentum. And hence despite a couple of rejections, the asset managed to quickly rebound to its previous levels within no time. Currently, the price is attempting to maintain a strong uptrend by achieving the pivotal levels at the earliest. 

Short-Term The price is attempting to range high but the bears are currently attempting to take back control. And hence a tough fight between the two may be witnessed along with the pivotal levels throughout the day
Mid-Term The asset has formed a significant bullish pattern and hence a quick breakout may be fast approaching
Long-Term Aave price is manifesting huge chances of going parabolic in the long-term as the buying volume accelerates

Additional Read: Best Cryptocurrency Projects to Look Out for in 2022

Technical Indicators & Pivot Levels

Technical Indicators

Technical Indicators Value(1Hr / 1D) Action (1Hr / 1D)
Relative Strength Index(RSI) 61.66 / 61.78 Buy / Buy
MACD(12,26) 0.900 / 3.85 Buy / Buy
Average Directional Index(ADX) 25.25 / 34.46 Buy / Buy
Bull-Bear Power 6.7 / 25.01 Buy / Buy

Pivot Levels

Pivot Levels Short-Term Long-term
Moving Average(MA)-50 $153.91 $145.57
Moving Average(MA)-200 $141.36 $236
Resistance $173 $324
Support $147 $96.8

Oscillators

Oscillators Short-Term Long-Term
Stochastic Oscillator 49.42 82.4
Ultimate Oscillator 53.28 65.95
Average True Range(ATR) 2.75 11.32
CCI 170.01 99.63

The AAVE price in the long term is extremely bullish with almost all the indicators pointing towards a ‘BUY’ signal. The RSI is ranging high as the strength of the rally is extremely strong. The current price is above the crucial resistance levels as the bulls have capitulated to the market. And hence the uptrend may continue until the price reaches the immediate resistance levels. 

A similar scenario is witnessed in the higher time as most of the indicators are extremely bullish. However, a couple of them display the probability of interim flip as the Stochastic Oscillator has reached the overbought levels. On the other hand, the asset is extremely volatile in the long term and hence a quick jump may eventually end up shedding the value at the same pace.

AAVE /USDT Technical-Analysis for Short-Term

Source: Tradingview

  • The AAVE price after the recent jump from the lower levels surged more than 40% and further initiated with a decent consolidation
  • And hence forming a bullish flag that points out towards a significant breakout with a slice through the pennant. 
  • The buying volume has intensified and hence a breakout towards the upper resistance close to $170 appears mandatory
  • However, the asset may experience a minor rejection at these levels which may be reversed within no time. 

AAVE/USDT Technical Analysis for Long-Term

Source: Tradingview

  • The price after a rejection at $275 plunged hard forming multiple lower highs and lows which appears to have broken off-let
  • With the breach through the descending parallel channel, the asset is currently hovering around the upper immediate resistance
  • Hence a breakout from these levels may validate an uptrend towards the next resistance at $190 and eventually seal the levels beyond $200
  • However, the possibilities of a drastic pullback appear to be pretty low as a decent buying volume is accumulated 

Additional Read: AAVE Price Prediction

Where & How to Buy Aave (AAVE)

Buying or Selling on CoinDCX is extremely safe and easy. Along with AAVE, you get access to a wide range of cryptocurrencies like DeFi, NFTs, stablecoins, and of course the popular cryptos too. To begin with, all you need to do is just download the CoinDCX App on your smartphone and enter all the required details. The platform verifies the details, posts to which you can fund your wallet and buy your favorite crypto.


Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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