Aave crypto despite the current bearish trend could fly high as the long-term forecast is extremely bullish. No doubt in the short-term the asset is pretty shaky, but the bulls are expected to escort the AAVE price much beyond its ATH. In doing so, the token could revisit lower levels, but not to worry a quick rebound may always follow the asset.
Yet a notable downtrend prevails within the space, will AAVE price yet again swing in the buy-zone?
Let’s check it out below!
Aave(AAVE)/USDT Technical Analysis at a Glance
The AAVE price had an extreme bearish start but it quickly managed the strained situation and flipped to regain the positions above $280. No doubt the token is currently experiencing up and down yet the huge green candle in between the selling volume indicates the tendency of the asset to prevent forming lower highs.
One of the buy-zone is around $240 levels, however, considering the present trend, revisiting these levels appears to be uncertain. Yet in case of an extreme bearish trend, the asset may go much lower than $150 too. And here is when one can expect a large influx of liquidity that may uplift the price close to $300.
|Short Term||The asset has already withstood the drop in the early trading hours and currently attempting to make a huge move towards the north|
|Mid-Term||AAVE price is refusing to go lower despite selling pressure mounting on the platform. And hence signals a bullish trend ahead|
|Long Term||The current levels could be maintained for some more days followed by a slight variation irrespective of the direction. However, the long-term forecast remains bullish to some extent.|
Aave(AAVE) Technical Indicators
|Indicators||1Hr / 1D||Action(1Hr / 1D)|
|MACD||1.880 / 10.92||Buy / Buy|
|Relative Strength Index(RSI)||53.5 / 69.5||Neutral / Buy|
|StochasticRSI(StochRSI)||60.7 / 100||Buy / Overbought|
|Historic Volatility Percentile(HVP)||50.33/ 124.83||Neutral / Buy|
|Pivotal Points||1Hr / 1D|
|Moving Average(MA) – 50||276.9 / 238.4|
|Moving Average(MA) – 200||235.8 / 291.7|
|FIB Extension Support 1||281.02 / 268.2|
|FIB Extension Resistance 1||286.44 / 289.14|
Additional Read: AVAX Avalanche Price Prediction
The AAVE price both in the short term and long appears extremely bullish as most of the indicators are pointing towards a ‘Strong-Buy’ signal. The RSI since the past weekend maintained an upward trend while the MACD line is about to cross the signal line in the short term to roll out a buy signal. The selling pressure has also eased to a certain extent, paving way for the buyers to buckle up.
Considering the support levels which remain elevated above $275 and the recent flip from $266 levels made these levels more strong to hold amid a downtrend. On the other hand, the resistance levels are above $300 showcasing the huge possibility of the asset slicing these levels forming higher highs.
Aave(AAVE) Technical Analysis for the Week
Aave price was much within the range bound and quickly absorbed the bullish momentum as it bottomed hard. Since then the asset maintained a substantial uptrend to regain levels much above $260.The bears, no doubt, utilized all their resources to drag the price relatively below $250 but appear to have failed to a large extent.
Source: Tradingview Date: 28-12-2021 Time: 03:15pm
- The price surpassed the crucial resistance levels at $274 surged high. But it fell an inch short to surpass the $300 target as bears entered the ring at $296.8.
- Currently, the price is drowning and expected to hit the above-mentioned resistance levels yet again
- Yet in the long term, the AAVE price is pretty bullish as it began today’s day trade with a breakout from the descending channel
- The immediate resistance lies at $318, clearing which the path towards the one of mandatory resistance at $347, becomes clear.
Aave(AAVE) Technical Analysis for Today: 28 December 2021
The AAVE price began surging since the previous day’s trade and after maintaining a notable uptrend, the asset squeezed its gains. The price is manifesting extreme volatility for the past couple of hours as the buyers and sellers appear to be in a tough fight. Yet the technicals suggest an increase in the buying volume which may uplift the price above $300 soon.
The AAVE price at the press time is around $283.44 with a drop of 1.70% in the past 24 hours. However, the trading volume has increased by nearly 72.37% but the market cap dropped by 1.58%.
Where & How to buy Aave(AAVE)
Aave is available for trade on all the major platforms. Yet here in CoinDCX you can explore the world of cryptocurrencies at a single touch on your smartphone. We are India’s most trusted cryptocurrency exchange with more than 7.5 million registered users, among them the active users are around 4 million.
By downloading the CoinDCX app, you step into the world of trade with ease at affordable rates. Moreover, CoinDCX is running numerous programs on its platform. If you want to be eligible for the contests, then fund your wallet and transact within the stipulated time frame. For more details refer to the CoinDCX announcements page.
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