Aave Crypto Pullback Trade: $200 Next Target?

1 month ago 32080

ARTICLE AD BOX

Pullback in Uptrend. Price remains in an Uptrend but has pulled back, which could present a ‘buying dip’ opportunity. Traders should look for the nearest support level where price could stabilize and resume its Uptrend.

This support level could be a level where price bounced off of in the past, or a level that was previously resistance

For on-demand analysis of any cryptocurrency, join our Telegram channel.

AAVE Crypto Price Analysis

Aave (AAVE) is trading at $148.69

Market Cap: $2.22 billion
24h Trading Volume: $141.3 million
Circulating Supply: 14.96 million AAVE
Total Supply: 16 million AAVE

Following a bearish breakout from Channel Up pattern, price has regained the $154 key level and remains in a clear Uptrend. Upside potential to $175 where it got rejected recently.

If it breaks above $175, it could attack $200 next. Momentum is inflecting bullish again

Weekly Price Analysis

In the past week, AAVE saw a decline of 6.47%, driven by market-wide corrections and a general downward trend in decentralized finance (DeFi) projects. The 7-day range fluctuated between $147.72 and $153.49.

Price Change (24h): -1.58%
Price Change (7d): -6.47%.
Trend: Short-term trend is Up, Medium-term trend is Strong Up, Long-term trend is Strong Up.
Momentum: Price is neither overbought nor oversold currently.
Support and Resistance: Nearest Support Zone is $134.00, then $105.00. Nearest Resistance Zone is $175.00, then $200.00.

Indicators and Technical Overview

24h Low/High: $147.72 – $153.49
RSI (Relative Strength Index): AAVE is near an oversold position.
Moving Averages: AAVE remains below its 50-day and 200-day moving averages.

News Roundup

The launch of Aave’s new GHO stablecoin, which aims to increase liquidity and DeFi utility on the platform.
Integration with Chainlink CCIP (Cross-Chain Interoperability Protocol), allowing Aave users to engage in cross-chain DeFi activities more securely.
Growing adoption of Aave’s flash loans and variable/fixed interest rate models continues to be a major selling point in the DeFi space.

For on-demand analysis of any cryptocurrency, join our Telegram channel.