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- 1 Aave price forecast suggests that AAVE cryptocurrency is recovering towards the $70 resistance.
- 2 AAVE crypto is trying to recover above 20, 50, 100 and 200-days daily moving average.
- 3 Aave cryptocurrency has gained 29.47% year to date.
The Aave price forecast paints a picture of AAVE cryptocurrency’s impending surge, with its trajectory set towards the coveted $70 threshold as indicated by the daily timeframe chart. However, this promising movement is met with a notable presence of sellers who appear to be gathering momentum, potentially steering AAVE crypto in a downward direction. For AAVE crypto to successfully break through and advance within the upper echelons of the price spectrum, it requires a robust influx of buyers.
The battle between buyers and sellers in the cryptocurrency market is a dynamic and ever-evolving struggle. It’s a tug-of-war that often dictates the short-term direction of a digital asset’s price. In the case of AAVE crypto, the outcome of this struggle will play a significant role in determining whether the projected surge towards the $70 mark can be fully realized.
AAVE price was at $67.16 and lost 0.19% of its market capitalization during the day’s trading session. Trading volume has decreased by 3.96% during the intraday trading session. This demonstrates that sellers are trying to accumulate to pull AAVE crypto downwards. Volume to market cap ratio was 7.74%.
Will Aave price Sustain or Get Detained?
Aave price forecast reveals the sustainability issue of AAVE crypto at the current level to surge towards the $70 mark. Meanwhile, AAVE crypto is trying to recover above 20, 50, 100 and 200-days daily moving averages. However, volume change was below average.
Over the course of the past week, the Aave price has experienced a growth of 4.32%, while it has encountered a decline of 3.17% within a month’s time. Furthermore, AAVE cryptocurrency has achieved an increase of 7.82% over the preceding three months, juxtaposed with a decrease of approximately 14.48% during the last six months. Nevertheless, the AAVE crypto price has exhibited a substantial rise of 29.52% year to date, thereby affirming the evidence of AAVE crypto’s noteworthy recovery potential throughout the year 2023.
Technical indicators suggest the struggle of AAVE crypto at the current level. Relative strength index shows the consolidation of AAVE cryptocurrency. Moving average convergence divergence indicates the make-or-break situation of AAVE crypto.
RSI was at 47 and is flat below neutrality. The MACD line is moving towards the signal line for a positive crossover. Investors in Aave cryptocurrency need to wait until the AAVE crypto price reaches the upper threshold.
Summary
The Aave price forecast paints a picture of AAVE cryptocurrency’s impending surge, with its trajectory set towards the coveted $70 threshold as indicated by the daily timeframe chart. However, volume change was below average. Technical indicators showcase the struggle of AAVE crypto at the current level. Investors in Aave cryptocurrency need to wait until the AAVE crypto price reaches the upper threshold.
Technical Levels
Support Levels: $64.90 and $62.65
Resistance Levels: $70.00 and $75.00
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.