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- 1 Aave price prediction showcases sustainability issues with AAVE crypto over the chart.
- 2 AAVE crypto is trying to remain above the $69.50 support zone and may slip as Bitcoin falters to remain above $29K.
- 3 The pair of AAVE/BTC was at 0.002422 BTC with an intraday gain of 1.31%.
Aave price prediction indicates AAVE may slip from the current level, if Bitcoin, the traditional cryptocurrency, will slump from $29000. Meanwhile, AAVE crypto needs to sustain at the support level of $69.50. However, sellers may try to pull AAVE, if Bitcoin shows any negative signal over the daily time frame chart.
AAVE needs to attract buyers during the intraday trading session in order to maintain itself above the $70 psychological level. Investors in AAVE crypto need to wait for any directional change that prompts over the daily time frame chart.
Aave price was at $70.43 and has gained 0.23% of its market capitalization during the day’s trading session. Trading volume has increased by 40% during the intraday trading session. This demonstrates buyers are present to oppose the fall of AAVE crypto. Volume to market cap ratio was at 0.0566.
Will Aave Price Sustain or Get Detained?
Aave price prediction indicates that AAVE crypto is trying to sustain at the current level, in order to avoid any significant fall over the charts. However, analysts believe that if Bitcoin, the market dominator, slips below $29K, then other altcoins also may start slipping. Meanwhile, Aave crypto maintains above the 50 and 100-days DMA to be at the 20 and 200-days Daily Moving Average. This highlights the recent struggle of AAVE crypto inside a curve.
Aave price has gained 23.15% in a month and 35.61% year-to-date. This confirms the facts regarding AAVE crypto’s recovery in 2023. Nevertheless, traders can’t deny the fact that Bitcoin is the cryptocurrency giant to affect other altcoins while it slips from the upper level. Other altcoins just follow it through to slump more over the charts.
Technical indicators suggest the struggle of AAVE crypto to sustain at the current level. Relative strength index showcases the consolidation phase of AAVE crypto. RSI was at 48 and is flat below neutrality.
MACD exhibits the downtrend momentum of AAVE crypto price. The MACD line is below the signal line after a negative crossover. Investors in Aave cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
According to the AAVE price prediction, if Bitcoin, the most well-known cryptocurrency, drops below $29000, AAVE may lose some of its recent gains. AAVE must find buyers throughout the intraday trading session, if it is to keep its psychological level over $70. Analysts predict other altcoins may begin to decline, if the market leader, Bitcoin, drops below $29K. Technical factors point to AAVE crypto’s difficulty in maintaining its present position. Investors in the Aave cryptocurrency must watch the daily time frame chart for any directional changes.
Technical Levels
Support Levels: $69.50 and $60.00
Resistance Levels: $70.95 and $72.77
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
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.
