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Based on the technical chart, the AAVE price has managed to defend the $80 mark and has surged by 57%. After many attempts at the $80 mark, sellers have lost momentum, and the buyers have shown their domination.
The price has surpassed the 200-day EMA and has extended to the last swing high. Sellers have shown interest at the last swing high, dropping by 11% in the previous 3 days. The recent fall can be converted into a pullback if the buyers show interest.
The digital asset price has traveled to the $150 territory in one go, demonstrating the buyers’ strength. However, sellers have shown interest near the $150 hurdle, and short-term profit booking has been analyzed.
Aave crypto was being traded at 127.19 at the time of writing, which has dropped by 1.36% in the past 24 hours. It has a market capitalization of $1.89 Billion, and its 24-hour trading volume is $155.87 Million.
AAVE Price: Technical Indicators
The RSI has displayed a death crossover with the RSI-based moving averages, which might be a bearish signal.
The AAVE crypto price has departed from the Upper Bollinger Band and is heading toward the Base Bollinger Band. If the sellers remain strong, the price may melt to the Lower Bollinger Band.
Is It a Favorable Condition for Buyers in AAVE Crypto?
Based on this source on X, the Aave crypto price is expected to perform positively. The price is wandering in the higher trading zone, and the price action looks awesome. Macroeconomics is good enough to lift the price further.
Could the Aave Price Smash the $150 Hurdle Soon?
According to the technical chart, the Aave crypto price has shown weakness near the $150 mark. The recent losses could turn into a pullback if the buyers bounce back.
Suppose the digital asset price takes support on the 20-day EMA. It would be a buying opportunity. Buying pressure at the 20-day mark may attract buyers, and the price may extend to the $150 mark. If the price manages to surpass the $150 mark, strong buying pressure can be expected for a longer period.
Alternatively, sellers may dominate further if the crypto asset price fails to defend the 20-day EMA. Buyers may show interest at the $105 mark to bounce back, which would be the buyers’ last hope.
AAVE Price Forecast
The AAVE price has shown resilience by defending the $80 support level and exhibiting a significant surge. Although it has faced resistance near the $150 mark, there is potential to bounce back if buyers demonstrate interest.
The technical indicators and macroeconomic factors suggested a positive trajectory for the AAVE crypto price. It indicated a favorable condition for buyers.
Traders are advised to monitor the price action at the 20-day EMA closely. Also, they need to watch the $150 hurdle to gauge potential buying or selling opportunities.
Technical Levels
The AAVE price is expected to face resistance from the $150 and $180 levels. The price may take support at the $105 and $80 mark.