Aave (AAVE) has been one of the few cryptocurrencies performing well in the daily timeframe. While Aave coin has barely moved up in the weekly timeframe, the cryptocurrency increased by 6% in the past twenty-four hours. At the time of writing, the cryptocurrency stands at a price level of $282. Aave has been trending upwards with the daily trading volume also increasing.
Aave (AAVE) Technical Analysis
Despite the bullish trend of Aave, the market outlook for cryptocurrency is largely bearish. Out of the total twenty-six technical indicators, ten are suggesting a signal of the sell while ten stand at a neutral position with six indicators bullish. The oscillators are neutral while the moving averages suggest a downtrend in the daily timeframe.
Aave coin is currently in a support zone. The price range of $270 to $280 has been acting as a supporting zone for Aave and the cryptocurrency has stabilized in the region. The recent green candles indicate the strength of the support zone which can propel it further upwards. The upcoming price movement for Aave are expected to be bullish. A trader’s analysis reveals other crucial levels that are expected to be tested by the cryptocurrency. If the bullish momentum sustains, Aave can reach towards the resistance level at $315 followed by $435.
Aave (AAVE) price prediction
Aave is the largest DeFi protocol by market. As DeFi becomes more and more relevant to the real world, DeFi tokens like Aave are going to reach for the moon. The future projections for Aave are bullish. According to the estimates of Wallet Investor, the one-year price of Aave is at $804 while the price after five years is expected to be at $2,741. Digital Coin Price also predicts a bullish scenario for the cryptocurrency. Per their estimates, the cryptocurrency will end the year with $396 and reach towards $1,238 by 2028.