{"id":375366,"date":"2023-02-14T06:09:10","date_gmt":"2023-02-14T11:09:10","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=375366"},"modified":"2023-02-14T06:09:10","modified_gmt":"2023-02-14T11:09:10","slug":"aave-price-prediction-aave-trading-p-is-up-6-70-is-aave-signaling-a-bearish-move","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/aave-price-prediction-aave-trading-p-is-up-6-70-is-aave-signaling-a-bearish-move","title":{"rendered":"AAVE Price Prediction: AAVE Trading P is up $6.70, is AAVE Signaling a Bearish move?"},"content":{"rendered":"

(AAVE) began its daily trading 24 hours ago with a trading volume of $59,516,137. Over the past 24 hours, its trading volume has increased by 341.10% to $262,472,656. This rise in trading volume suggests that there has been increased market activity in Aave. Is this anything to go by?<\/p>\n

AAVE Market Analysis and Statistics<\/h2>\n

At press time, Aave (AAVE) is priced at $82.20<\/a>, with a 24-hour trading volume of $265,181,375, indicating a 6.70% price increase in the last day and a 2.40% decline over the past week.<\/p>\n

Aave is a decentralized money market protocol allowing users to borrow across 20 different crypto assets as collateral. The protocol has a governance token called AAVE that enables the community to steer its direction collectively.<\/p>\n

https:\/\/twitter.com\/AAVEProtocol\/status\/1617979956423987200?s=20&t=A1hMTTYfVeNrrwv8_S26pA<\/p>\n

Lenders can earn interest by providing liquidity, while borrowers can take out loans by collateralizing their crypto assets from the liquidity pools. Aave’s market cap is $1,170,628,860, with a circulating supply of 14 million AAVE tokens.<\/p>\n

The price of Aave reached its all-time high of $661 in May 2021 and has since been on a bearish move. The move was further aided by the fall of the crypto exchange FTX bringing the coin to its low of $50. In a rather turnout of events, the token has been on a bull run attracting its investors to invest more.<\/p>\n

AAVE Price Prediction: Technical Indicator Analysis<\/h2>\n

The market price of Aave shows a remarkable trend supported by several indicators. The price is trading well above the 200-day and 50-day moving averages which confirms that the move of the coin is bullish.<\/p>\n

Furthermore, the Relative Strength Index shows a clear bullish trend as it trades above the 50-level mark. This indicates that the Aave token has had a lot of activities lately.<\/p>\n

However, price retracement might take place. Should they break the 200-day moving average to the downside then the corresponding 20-level mark on the RSI might be a support level.<\/p>\n

AAVE\/USD Daily Chart Analysis and Prediction<\/h2>\n

After hitting bottom at $50, the price of Aave changed trends, and bulls began pushing the price up. However, the resistance level at $94.5 seems to prevent the price breakthrough strongly.<\/p>\n

\"AAVE<\/p>\n

The market price of AAVE seems to be trading in a consolidation state between the highs of $94 and the lows of $71. For how long, then, can this consolidation last?<\/p>\n

According to general technical analysis, whenever the market price is on an uptrend and consolidates, there is a likelihood that the price may fall back to its original breakout. Should the price break below the $71 level mark, we expect it to fall back to its bottom again.<\/p>\n

On the other hand, the daily volume bar is full, indicating a strong bullish move. This brings a mixture of dilemmas on which direction the market should be taking.<\/p>\n

Based on the technical analysis above, Aave seems to be in a consolidation state where neither bulls nor bears are active on the market.<\/p>\n

Alternative for AAVE<\/h2>\n

Meta Masters Guild has garnered significant interest among experienced P2E gamers since its announcement, due to its status as the first mobile-only Web3 initiative<\/a>. To cultivate a loyal following, the project is focusing on creating accessible and captivating games, which will prevent gamers from losing interest quickly. Creators can be confident in the project’s approach.<\/p>\n

The native token $MEMAG<\/a> will be used for all in-game activities and as the primary currency in the ecosystem. The final round of the token’s presale has ended, and it is currently valued at $0.023 USDT. Experienced crypto investors believe that it may be challenging to find a similarly attractive offer in the near future.<\/p>\n

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