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- 1 The AAVE price signifies upward movement and has retested the 100-day EMA mark.
- 2 Buyers are willing to retain the upside mark of $150 soon.
The AAVE price showcased buying momentum and is poised for an uptrend ahead. The trend is bullish, and the AAVE token will continue to spray the gains and may soon retain the upside round mark of $150. The price action displayed a rounding bottom formation, and the token is awaiting a significant pullback from the 100-day EMA mark. Amidst the crypto market downturn, the AAVE token regressed only by 15% and remained in the bullish region.
At press time, the Aave token (AAVE) price was trading at $115.67 with an intraday gain of 1.57%, reflecting neutrality on the charts. It has a monthly return ratio of -17.89% and 58.90% on a yearly basis. The pair of AAVE/BTC is at 0.00170 BTC, and the market cap is $1.74 Billion. Analysts are neutral and suggest that the AAVE token price may deliver an uptrend ahead and may retain the upside of $150 soon.
AAVE Price-to-Volume Profile On Daily Timeframe
The AAVE price signifies a bullish trend and a healthy retracement to the 100-day EMA was made, and the token may resume the bullish waves ahead. The trend favors buyers, and the token may retain the upside of $150 soon. The intraday trading volume jumped over 2.37% to $80.41 million, which depicts average investor interest.
Price Volatility and Weighted Sentiment Outlook
The price volatility showcased average and stayed in the lower region, noting around 0.01 signifies low volume buying. Similarly, the total weighted sentiment remained in the negative region, around -0.747, replicating an adverse outlook.
Social Dominance and Holders Data Overview
The Social dominance activity noted a surge of over 12% and jumped to 0.066% in the intraday session. However, the amount of holders noted a consistent up move and reached $166k this week.
Development Activity and Open Interest Analysis
Per the Sanitment data, the development activity noted a decline of over 15% and dropped to 19.1 this week. However, the derivative data signifies a long buildup and the open interest rose by over 3.38% to $70.12 million in the last 24 hours.
Per the Fib levels, the AAVE price has slipped to the 38.2% zone and is trading in the mid Bollinger Band region near the support zone of $110. The RSI curve stayed in the oversold region and reflected a negative crossover on the charts.
The total supply of the AAVE is 16.25 million, whereas the volume-to-market cap ratio is 0.0463, and it stands at 68 per the market cap in the global crypto market.
Summary
The AAVE token price has retested the breakout region near the $110 mark and is anticipating a rebound soon. However, the token has slipped to the 200-day EMA zone, and sellers are trying to continue the retracement and are eyeing the $100 mark.
Technical Levels
Support Levels: $105 and $100
Resistance Levels: $120 and $135
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
