Aave Price Prediction: Can AAVE Reverse Its Course From 200 EMA?

• 1 Aave crypto rebounded from the 200-Day EMA and jumped higher.
• 2 AAVE crypto price was at $0.056, recording an intraday drop of 12.31% (press time).

Aave crypto gained traction on Monday and started the week on a positive note. Yesterday, the buyers played aggressive bullish bets after the crypto maintained itself above the 200-Day EMA over the last couple of sessions.

Aave crypto price lifted off nearly 5% yesterday. However, the buyers could not continue to hold at the higher levels and the price dipped lower, losing some of yesterday’s gains.

Moreover, Aave crypto is struggling to break out of a short-term correction phase. The crypto has been under the bears’ control following a short-term negative trend from the start of the financial year 2024.

The AAVE crypto price reversed its course in January and turned negative in the short term. The price fell sharply after suffering rejection near a round level of $125 breaking below the 20-Day EMA.

However, the buyers tried to halt the further downfall near the 50-Day EMA but could not withstand the sharp selling pressure from the upper supply zones and broke below. Thereafter, the 200-Day EMA acted as a major support zone and the price bounced back after witnessing a small consolidation near it.

Aave Crypto Volume Analysis

The volume analysis shows that the crypto received $138 Million Volume in the past 24 hours with an increment of 56% as compared to the previous day. The live market capitalization of Aave crypto is $1.30 Billion and ranks 57th in the overall crypto market.

It has a circulating supply of 14.732 Million against a total supply of 16 Million tokens.

Aave Crypto Short Term Outlook

Recently, AAVE crypto has taken a rebound from the 200-Day EMA indicating the presence of buyers at the lower levels. Now, a fresh downside move may appear if the price breaks below the 200-Day EMA and a round level of $80.

On the upper side, the 50-Day EMA may act as a resistance and may drag the price to the lower levels. The breakout above the 50-Day EMA may bring some hope for the buyers and the crypto may end its correction phase to resume higher.

Aave Price Prediction February 2024

AAVE/USD Chart by TradingView

As per the most positive view of our analysts, the AAVE crypto has some more room on the upper side and could reach $100 by the end of February Month if it rises above the 50-Day EMA.

On the flip side, the downside view of analysts hopes that the crypto could fall to a low of $80 if it breaks below the 200-Day EMA.

Aave Price Prediction 2024

The price forecast for the year 2024 highlights that the AAVE token price could reach a high of $128.6, suggesting a potential gain of over 44.6%. Moreover, the bearish outlook of the analysts hopes the price could reach $108 by the year-end.

Aave Price Prediction 2025

By the year 2025, the AAVE price may attain $163.12 as the highest price. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $125.30.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Amanda Shinoy

Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.

Source