Issued on: 29th Jun’23
Valid upto: 04th July’23
Token: AAVE
Category: DeFi
Market Cap: $894 Million
Circulating Supply: 14,441,099
Total Supply: 16,000,000
Price Update:
AAVE price at the time of writing (29th June, 16:00) is $61.87, with a 24-hour Marketcap increase by 1.02% to $894 Million. AAVE price is up by 0.89% in the last 24 hours according to coinmarketcap.com
Source: TradingView
Analyzing the above chart:
- AAVE has recently broken out of a declining channel, accompanied by a notable surge in trading volume.
- In the 4-hour time frame, AAVE has retested the 99 EMA and a key level, and it is currently heading towards a resistance level at $68.65, which is the target price.
- The bullish sentiment continued in AAVE last week as the candle closed with a positive tone, bouncing back from a major support level($51). The substantial trading volume during this period further reinforced the bullish outlook, suggesting increased buying activity in the market.
- A Long Trading strategy can be assessed between $60.70-$62.11 with invalidation below $57.40
- On the upside, one can see a rise of 10-20% toward $68.65 & $77.02
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: AAVE is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade AAVE in Futures Market at CoinDCX
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