AAVE Price Prediction: Aave Regains $100; Will it Trigger Rally?

• 1 AAVE price prediction stays bullish for 2024 and suggests a 10% to 20% rise is possible in the coming months.
• 2 Aave price regains the $100 mark and sustains above the 50-day and 200-day EMA.
• 3 AAVE crypto price is in an uptrend.

AAVE price prediction stays bullish for the next year and suggests a 10% to 20% rise is possible in the coming months. It is forming a bullish continuation pattern and the price is in a positive momentum.

In the last two months, AAVE price performed well and succeeded in regaining the $100.00 mark. It shows the strength and confidence of bulls.

The 50-day and 200-day EMA is sloping upward and the price is sustaining above both the EMAs showcasing an uptrend.

At the beginning of November, Aave price tried to break out of the $100 level with a high volume. But the attempt failed and the price faced rejection. Surprisingly, the previous upmove was supported by a high buying volume but still, the attempt failed.

Later, AAVE price retraced back to the 50-day EMA which acted as a strong support for the bulls. Luckily, the buyers were active near EMA and succeeded in giving a decent bounce.

Gradually, the price recovered and the buyers succeeded in taking control of the supply zone. At the time of writing, AAVE price is trading at $101.98 with an intraday decline of -0.72%. The 24-hour volume to market cap is 8.59%.

AAVE Price Analysis: Will Bulls Continue its Dominance?

Source: AAVE/USDT daily chart by Tradingview

AAVE price prediction favors the bulls and suggests the rally has just begun. Buyers are trying their best to hold the $100 level and regain the confidence of the long-term investors.

Meanwhile, the crypto leader BTC price broke out of the $40K barrier which spread the positive waves in the market. It indirectly impacted the price of AAVE and added fuel to the upward momentum.

Till the Aave price sustains above $80, the buyers will remain active and any short-term sell-off will be easily absorbed. The analysis suggests that Aave price is in an uptrend so bulls are likely to continue their dominance and lead the rally.

What if Aave Price Breaks the Crucial Resistance?

Aave price turned bullish on the multiple timeframe chart which boosted the confidence of the long-term investors.

On the higher side, the crucial resistance is at $109.00. If the price continues to rise and succeeds in breaking out of the $109.00 hurdle, then it might trigger the next phase of the rally.

The MACD curve sloping sideways indicates a few weeks of consolidation is possible. However, the RSI at 61 is sloping upward denoting the strength of the bulls and more scope of upside is open.

Conclusion

AAVE price prediction stays bullish for 2024 and suggests a 10% to 20% upmove is possible in the coming months. Aave crypto regains the $100 mark and sustaining above it denotes the strength of the bulls.

The analysis suggests that Aave crypto price is in the bulls’ grip so investors should seek to buy it to generate nominal returns.

Technical Levels

• Resistance levels: $109.70 and $120.00
• Support levels: $89.48 and $82.94

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.