Aave Price Sits Above Bull Market EMAs

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Aave (AAVE) is trading above one of the bull market indicators, suggesting that the uptrend started in September is nowhere near an end. This bullish outlook is visible with AAVE increasing by 8% over the last 24 hours to trade at $69.84 on Thursday.

Its trading volume in the same period increased by 58% to $109 million, with the market cap jumping by 5% to $1 billion. Aave ranks #43 among other cryptos according to the live price data by CoinMarketCap.

Aave Activates ParaSwap Smart Contract Adapter

The open-source and non-custodial liquidity protocol has launched a ParaSwap smart contract to enable “repayment with collateral, collateral switch, and debt switch for the BuildOnBase market on the Aave Interface.”

We have activated the @paraswap smart contract adapter enabling repayment with collateral, collateral switch, and debt switch for the @BuildOnBase market on the Aave Interface. https://t.co/gzkAogjUOS

— Aave Labs (@aave) October 5, 2023

ParaSwap is a platform that aggregates the best prices in the decentralized finance (DeFi) sector for both traders and decentralized applications (dApps). The platform boasts of uniting liquidity for decentralized exchanges and lending protocols to form a wide-ranging and secure interface and APIs.

Traders and dApps utilize the robust APIs provided by ParaSwap, not to mention other services like advanced charts, multichain features, on-chain requests for quotes, and a yield optimizer used to optimize rates on lending protocols.

Aave’s focus on continuous development is one factor that keeps the ecosystem attractive to investors. On September 28, the team announced the release of Aave Governance v3 following “months of research, implementation, and security procedures.”

The Aave Governance V2→V3 Activation plan outlines the migration. Discuss here: https://t.co/4N5lcDnUlD https://t.co/1UxxSNC9fQ

— Aave Labs (@aave) September 28, 2023

The upgrade included a.DI (Aave Delivery Infrastructure) and Aave Robot.

“Aave Governance v3 is a permissionless system, with users participating by directly submitting transactions to smart contracts.” Aave said via a blogpost. “But for convenience and good user experience, we have developed a user interface application and additional tooling that helps participants visualize data and easily build transactions.”

Aave Price Prediction: Navigating AAVE’s Bullish Outlook

Aave sits above the 21-week Exponential Moving Average (EMA) (red), serving as support at $65.42. It had earlier retested support at the falling trendline, implying that bulls had the upper hand.

The Moving Average Convergence Divergence (MACD) indicator reveals that a bullish outcome is highly likely despite the resistance encountered at $72.32. Traders should consider rallying behind AAVE, especially with the momentum indicator above the neutral 0.000 area.

If a strong tailwind builds behind AAVE, the token can obliterate the next critical resistance shown by the 200-week EMA (purple) $90. Note that gains above this price point could begin a meaningful uptrend, starting with a step above the 100-week EMA (blue) at $100 ahead of a more significant breakout to $160.

aave price chart — AAVE/USD weekly chart | Tradingview

Meanwhile, bullish sentiment is building around AAVE and other tokens, with some enthusiasts believing it can give a 100x return during the next bull run.

Which #altcoin will give a 💯x return in the #bullrun?🤔

1. $XRP
2. $AAVE
3. $AVAX
4. $HBAR @ripple @avax @HBAR_foundation @AaveAave pic.twitter.com/6Bi4Po58NI

— TheNewsCrypto (@The_NewsCrypto) October 5, 2023

Traders are also fixated on Aave’s short-term bullish outlook. For instance, @Jamesjhonson said via X (formerly Twitter) that if AAVE breaks above the descending trendline, it could sharply rebound to $88.

3. $AAVE – Aave:#AAVE attempts a trend change, bouncing off the 20-day EMA. Breaking the downtrend line could push AAVE to $88. Key support at the 20-day EMA – below this, a drop to the 50-day SMA is possible. pic.twitter.com/m8Hji38G9b

— James jhonson (@Jamesjhonson_1) October 2, 2023

The daily chart shows Aave’s price nurturing a potential double-bottom pattern. Moreover, AAVE holds above all key moving averages, including the 21-day EMA, the 100-day EMA, and the 200-day EMA, as bulls enhance their grip. The MACD has an elaborate buy signal, encouraging traders to keep seeking exposure to longs.

Bulls must uphold the uptrend no matter what to ensure Aave lifts above the double-bottom pattern neckline resistance to validate the anticipated 40% breakout to $11. This breakout target equals the pattern’s height extrapolated above the breakout point.

Aave Alternative to Buy – Bitcoin Minetrix

Investing in the crypto market can be lucrative but also daunting because of the high volatility affecting most cryptos. For this reason, investors must not put all their eggs in one basket but consider portfolio diversification as a way to minimize risk.

One way to manage risk is to look for crypto projects with immense potential and buy into them during their presale stages.

That said, Bitcoin Minetrix (BTCMTX) is a revolutionary platform already tokenizing cloud mining, allowing everyday investors to mine Bitcoin (BTC) in a decentralized yet secure manner.

With Bitcoin Minetrix, investors forget about the issues associated with third-party cloud mining scams.

This means investors have absolute control over the entire process by following a simple staking process (BTCMTX) to earn credits utilized to mine BTC. Cloud mining ensures that investors do not need expensive equipment to mine BTC.

The stake-to-mine concept is an innovative notion, rekindling hope for everyday #Crypto enthusiasts to engage in #Bitcoin mining. 🪙#BitcoinMinetrix users simply require an Ethereum-compatible wallet like #MetaMask, keeping things straightforward. pic.twitter.com/zqRFP4I5uD

— Bitcoinminetrix (@bitcoinminetrix) October 3, 2023

The mining process starts with the investors buying BTCMTX tokens in the ongoing presale using a self-custody wallet like MetaMask. These tokens are then staked in a smart contract to earn non-tradable ERC-20 token credits, which are then burned to earn BTC cloud mining power.

Investors have channeled $526k into the BTCMTX presale within two weeks. There is still an investment window, where you can buy 1 BTCMTX token for $0.011 as the team looks forward to raising $3 million to launch the project entirely.

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