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- AAVE is currently in a parallel channel with a gain of 4.97% in 24-hour volume. Meanwhile AAVE/BTC pair is currently seeing a gain of 3.75%
- Technical indicators of AAVE suggest an uptrend in the upcoming session. There is also an increase in inflow volume to the exchanges
AAVE is a decentralized protocol that allows people to borrow or lend money. AAVE price forecast good growth in the upcoming session. It has seen a gain of more than 943% since its inception.ROI of the coin is more than 65000% and is currently growing for more.
AAVE is currently ranked 22 with a market capitalization of $5,519,754,539.The Volume($371,134,283) of the coin has seen a gain of 46.45% today. The volume to market capitalization ratio of AAVE is 0.0813, if it crosses above 0.7 then a buying rush can be seen.
AAVE Sees An Increase In Inflow Volume To Exchange
AAVE coin is seeing an increase in the Inflow volume. It highlights that fewer people are believing in the coin. If the inflow volume does not see a drop then AAVE price can test the lower levels within a couple of weeks.
There is also an increase in the positive sentiment on social media for AAVE. This can help the coin to avoid the test of lower levels.
Technical Indicator Hints A Bullish Move For AAVE Price Forecast
The weekly technical chart of AAVE Price forecast a bearish momentum. On coming to the daily chart AAVE price has given a negative crossover from the 50 Moving Average. Chain Link price is below 50MA and above 100MA. The 50MA (Red) line is at $408 making it temporary resistance for the coin. Resistance for the coin ongoing upside is at $450 and on the downside, the price can see a bounceback from $400. AAVE has formed a parallel channel in a shorter time frame. If the price breaks down 10% above the AAVE then a strong bullish momentum can be seen. AAVE price can see a bullish move but one should wait until it tests the lower region of the channel and has a bounceback. AAVE/BTC pair can also see a downtrend in the upcoming trading session.
RSI( NEUTRAL): It is trailing at the value of 54 showcasing its presence in the oversold zone. There is a small negative slope formation in the RSI which highlights that price can see a very small downtrend. The overall sentiment of Neutral.
Conclusion
AAVE has seen significant growth in past. AAVE price forecast a strong bullish trend for the upcoming trading session. AAVE/BTC pair can see significant growth in the upcoming days. An Investor should do their due diligence before investing
Technical Levels
Major Resistance :$450
Major Support:$400
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
