Aave has been consolidating for some time now and could be in line for a good move that can deliver decent gains.
Price of Aave crypto is trading in a Channel Down pattern. With emerging patterns, traders who believe the price is likely to remain within its channel can initiate trades when the price fluctuates within its channel trendlines.
With complete patterns (i.e. a breakout) – initiate a trade when the price breaks through the channel’s trendlines, either on the upper or lower side. When this happens, the price can move rapidly in the direction of that breakout.
In this article, we will discuss Aave next target along with technical indicators and latest news.
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AAVE Next Target
Price: $253.22
Market Capitalization: $3.5 billion
24-Hour Trading Volume: $500 million
Circulating Supply: 13.8 million AAVE
Total Supply: 16 million AAVE
Src: Altfins
Price is in an Uptrend, trading in a Channel Down pattern. Pullback near Channel support of $240 is a swing trade entry opportunity with +25% potential upside to $300 (PT1) or $360 (PT2). Stop Loss at $217.
Technical Indicators
50-Week Simple Moving Average (SMA): The 50-week SMA is trending upward.
14-Week Relative Strength Index (RSI): The RSI is approaching 70.
Trend: Short-term trend is Down, Medium-term trend is Down, Long-term trend is Strong Up.
Momentum: Price is neither overbought nor oversold currently.
Support and Resistance: Nearest Support Zone is $240.00, then $200.00. Nearest Resistance Zone is $300.00, then $400.00.
Recent News and Developments
Grayscale Launched Aave Trust in Aug 2024
Aave DAO Partners for $100 Million Fixed Income Loan in Aug 2024
Avara Secured $31 Million for Lens Protocol in Dec 2024
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