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- 1 At the time of writing, the AAVE crypto was trading near $123.8, recording an intraday loss of 3.00%.
- 2 The Aave crypto rebounded from the 20-Day EMA and surged higher.
AAVE price chart shows losses on Thursday, dropping nearly 3%. Moreover, the price jumped off nearly 20% on Wednesday, reflecting buyers’ short term domination.
The price action suggests that the crypto has been on the rise with minor pullbacks over the last few weeks. The price took a rebound from the 200-Day moving average and reversed its course to turn bullish.
Earlier, AAVE crypto dropped lower in January after it broke below the 20 and 50-Day EMA, entering a short-term correction phase. The correction phase lasted for a month and the price bounced back after retracing the 200-Day EMA.
Currently, the buyers are in control of the trend and the price has reached near the monthly highs. Moreover, the buyers need to sustain near the swing high to register a breakout.
Is Aave Crypto Ready For A Breakout?
Fresh upside moves will be observed on the charts if Aave price breaks higher above the recent supply of $130 level. The overall crypto market is bullish which may help the crypto achieve higher targets easily.
On the higher side, the short term traders and investors may target the $150 as the short term target in the short term if the price breaks out. However, the buyers need to sustain near the highs to register a breakout.
Aave Volume Analysis
The volume analysis shows that the AAVE crypto has a daily volume of $370.79 Million, which is 15.36% higher than the previous day. It has a live market capitalization of $1.826 Billion and ranks 61st in the overall crypto market.
Also, it has a volume-to-market cap ratio of 20.65%, reflecting high volatility on the chart.
AAVE Crypto Indicator Analysis
Technical indicators imply a bullish outlook above the 20 and 50-Days exponential moving averages. The daily chart shows that AAVE crypto bounced back from the 50-Day EMA highlighting the EMAs acting as a dynamic support.
AAVE Crypto Price Prediction March 2024
The most positive view of analysts suggests that the AAVE price could reach a higher supply level of $150, indicating an upside potential of nearly 22.48% from the CMP if the bulls surpass the recent hurdle of $130.
The bearish view of our analysts hopes for the price to break below the 20 and 50-Days EMAs after which it may fall to the lower levels of $100.
Aave Crypto Price Prediction 2024
The analysts have a wide range of price targets for the year 2024. The most optimistic view of analysts is that Aave price could advance to a high of $227.6 on the higher side. The lower price target for AAVE crypto is $178.5 by the year-end.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
