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- 1 AAVE native token of Aave DEX lost more than 11% of its trading prices weekly.
- 2 Aave token’s highest traded price in 52 weeks was $115.80, and its lowest trading price was $47.30.
- 3 Aave token price might break the consolidating range and continue toward $100.
AAVE, the native token of the decentralized crypto lending platform Aave, lost 11.21% of its trading prices in a week and over 36% in a year. At press time, AAVE was trading at $62.35 with a 24-hours trading volume of 130.87k.
On July 14, 2023, Aave hit a high of $88.33, but the price failed to sustain at the upper level; sellers showed their aggressiveness and overruled buyers resulting in a steep decline in Aave prices.
Aave lost more than 2.50% on the July 15 trading session, and starting from the day, sellers continued their dominance over buyers dragging the price from $78 to $70.
Starting July 1 to date, Aave has been consolidating between $66.85 to $88.32. Analysis of the technical aspects shows that Aave token’s price action is similar to that witnessed in March 2023.
The declining movement might continue after the coming session. Aave price is expected to surge significantly, breaking all near resistance as buyers constantly try to establish their position and plan to pull Aave in the upper direction.
Aave token’s highest traded price in 52 weeks was $115.80, and the lowest traded price was $47.30. The Aave price might cross the milestone of $88 by the end of this week if buyers succeed in overruling sellers.
Despite the ongoing decline, there are more chances of a price reversal as it is likely that Aave token could break its consolidation range.
Will Aave Price Succeed to Break the Consolidation Range and Reach $100?
Yes, there are chances that the Aave token might break its records of trading price in 2023. Since the beginning of 2023, Aave price hasn’t crossed the long-term resistance level of $100, so there are more chances that it might cross the impregnable $100 level.
The next AAVE rally phase will begin when buyers break out of the $100 hurdle. On the other hand, if the price drops below $60.00, bears may try to hit new lows.
Conclusion
AAVE token price was declining at press time, showing bearish momentum, but might oppose the decline and generate decent returns for long-term investors. As per the technical analysis, Aave price might show a small decline, but is likely to surge in the coming sessions.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
