AAVE Crypto Price Predicts a Bullish Trend, Awaits Breakout from 200-Day EMA

Aave 加密货币价格自 4 月中旬以来多次守住 80 美元大关。自 3 月以来，该数字资产价格一直处于熊市趋势。

Aave(CRYPTO:AAVE) price level defended the $80 level and buyers were pushing for $200. It is struggling to cross the daily EMA. However, according to the chart structure, sellers are having a hard time dragging the price below $80. Aave price appears to be stuck at the $80 level and this level shows demand. Aave price is struggling to break through the 200-day EMA, but sellers remain strong. The price has formed a bottom at the key support level, crossed the 20-days EMA, and is facing resistance at the 200-days EMA. According to the latest data, AAVE price is trading at $90.26 with a daily loss of 1.98. The market value of the cryptocurrency is $1.35 billion and the trading volume in the last 24 hours is $113.68 million. AAVE's circulating supply is 14,852,573 and its fully diluted market cap is $1.44 billion.

Can Aave Price Recover Soon?

$70 and $50 are strong supports, bounces are expected. $50 for large purchases (80 percent chance of retesting)

This is not financial advice and is a high risk activity. Past performance does not indicate or guarantee future results. I have investments in the mentioned projects. Do your own research and seek professional help.

According to Source X, AAVE crypto price is expected to make an upward reversal from the $70 level. Major players are turning to liquidations below $70 and planning buying positions at the $50 level. On a broader timeframe, Aave crypto price formed a strong support at the $50 level.

Technical Analysis of AAVE Crypto Price on 1-Day Timeframe

On the daily chart, Aave crypto price made an upside breakout from the 200-day EMA but failed to sustain this breakout. and fell below the EMA. Currently, the digital asset price has reached the 200-day EMA and is facing resistance. A breakout from the 200-day EMA could initiate buying pressure and the price could rise as high as $140 in the next few months. Supportive trading volume can increase the strength and AAVE price can remain in an uptrend for longer.

The chart structure shows that Aave crypto price is falling by encountering the resistance of a trend line, creating lower lows and higher highs. Currently, the price is on the path to developing a new lower high. If the digital asset price encounters resistance from the trend line and forms a strong bearish candlestick pattern, bears' confidence may increase. Sellers may drop the price to the key $80 support level in a few weeks.

According to technical indicators, Aave crypto price has crossed the 20-days EMA and is moving towards the 200-days EMA and is experiencing buying momentum. The MACD formed green histogram bars and made a bullish breakout with the signal line.

Summary

Over the broader timeframe, the Aave crypto price was in an uptrend and is down nearly 85 percent from its all-time high. In the short term, Aave crypto price is falling due to resistance of a trend line. The price has crossed the 20-day EMA and is approaching the 200-day EMA. Overall, Aave crypto price offers a forecast for the bullish trend.

Technical Levels

Aave crypto price is expected to face resistance at the $110 and $130 levels. The price may gain support from the $80 and $50 levels.

This article is for informational purposes only and does not provide any financial, investment, or other advice. The information contained in this article should not be considered investment advice and does not constitute professional financial advice.

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