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- AAVE Price shot up 24% in a single day and momentum is still intact.
- The AAVE crypto price defends $50.00 support and takes a sharp U-turn.
- AAVE Price Prediction suggests bulls are back and the rally might begin soon.
AAVE Price shot up 24% in a single day and recovered almost 48% from the recent swing low. AAVE crypto takes a U-turn from the lows and bulls succeed to reclimb the 50 day EMA indicating short term bullish trend reversal.
AAVE Price Prediction suggests significant rise is possible in coming months because bulls are returning back to track. Recently, the rapid increase in the buying volume is also visible and price also confirming the strength.
It indicates genuine investors as well as whales have turned bullish and expecting the rally to continue to previous swing high. For the past few months AAVE Price has been in correction mode and declining by forming lower low swings.
Buyers tried multiple times to push the price above the 50 day EMA but got rejected. In the beginning of June, AAVE crypto Price dropped below $50.00 support which hurted the sentiment of investors.
Luckily the prices did not collapse and some buyers came forward to defend the support. Well, the recent up-move was very surprising but much needed for gaining back the confidence of investors.
AAVE Price is trading at $70.42 with an intraday rise of 23.37%. In the last 24 hours trading volume increased by 528%.
Will AAVE Price reach $95.00 in the coming month?
AAVE Price is continuing the positive momentum and attempting to break the 200 day EMA. If the breakout happens and buyers hold the price above EMA then the long term trend will reverse in favor of bulls.
Well, On the higher side $84.00 might act as the next hurdle for bulls. If AAVE Price holds $70.00 level then more upward momentum is possible in the coming week. However, if price faces rejection then it might retrace to 50 day EMA.
Another possibility in AAVE is narrow range consolidation near $70.00 because it had already shown a big move. The technical analysis suggests the up-move looks reliable and AAVE crypto preparing to reach $95.00 in coming months.
How much upside is possible in AAVE Price?
AAVE Price is near to previous month high which shows the strength of bulls. The momentum is likely to continue which will boost the confidence of investors.
If the overall crypto market performs well then it might impact AAVE and 15% to 30% more upside is possible from current levels.
The RSI curve at 74 rising higher denotes overbought territory. Whereas, the MACD curve generated positive crossover and histogram confirming the strength in the momentum.
Conclusion
AAVE Price up 24% at the time of writing and positive momentum is still intact. It indicates bulls are returning back and a 15% to 30% rally is possible from current levels.
The technical analysis says, AAVE crypto is in bulls grip and the trend has reversed in upward direction.
Technical levels
Resistance levels: $84.00 and $94.00
Support levels: $60.00 and $50.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
