Aave (AAVE) Technical Analysis: AAVE Price Trying Hard for A 15% Jump!

Key Takeaways

• Aave price closed the previous day’s trade at $153.9 with a market capitalization of $2.12 billion and a circulating supply of 13,652,948.04 AAVE
• The price currently swinging around some pivotal zones where-in a breakout is expected that may uplift the price above $200 initially

Aave (AAVE) Technical-Analysis for Today: 22 March 2022

The AAVE price after a gigantic rally towards the strong resistance levels is struggling hard to slice through these levels to settle high. Constant rejections at these levels are weakening the rally which is attracting the bears to act accordingly. No doubt the buying volume is pretty high but also the selling volume currently is sufficient to nullify it.

At the press time, the AAVE price is yet again attempting to breach through the resistance levels. But the selling pressure is mounting slowly which is compelling the price to get rejected once again. Yet the levels above $165 may be sealed before the day’s close and if the price managed to hit $170 then the next day’s start could be bullish. 

Aave (AAVE) Technical Analysis at a Glance

The price after a strong uptrend in the recent past managed to hold the gained levels above $150 despite a couple of minor pullbacks. The selling volume remained high compared to that of the buying which managed to keep up the bullish momentum. And hence despite a couple of rejections, the asset managed to quickly rebound to its previous levels within no time. Currently, the price is attempting to maintain a strong uptrend by achieving the pivotal levels at the earliest. 

Additional Read: Best Cryptocurrency Projects to Look Out for in 2022

Technical Indicators & Pivot Levels

Technical Indicators

Pivot Levels

Oscillators

The AAVE price in the long term is extremely bullish with almost all the indicators pointing towards a ‘BUY’ signal. The RSI is ranging high as the strength of the rally is extremely strong. The current price is above the crucial resistance levels as the bulls have capitulated to the market. And hence the uptrend may continue until the price reaches the immediate resistance levels. 

A similar scenario is witnessed in the higher time as most of the indicators are extremely bullish. However, a couple of them display the probability of interim flip as the Stochastic Oscillator has reached the overbought levels. On the other hand, the asset is extremely volatile in the long term and hence a quick jump may eventually end up shedding the value at the same pace.

AAVE /USDT Technical-Analysis for Short-Term

Source: Tradingview

• The AAVE price after the recent jump from the lower levels surged more than 40% and further initiated with a decent consolidation
• And hence forming a bullish flag that points out towards a significant breakout with a slice through the pennant. 
• The buying volume has intensified and hence a breakout towards the upper resistance close to $170 appears mandatory
• However, the asset may experience a minor rejection at these levels which may be reversed within no time. 

AAVE/USDT Technical Analysis for Long-Term

Source: Tradingview

• The price after a rejection at $275 plunged hard forming multiple lower highs and lows which appears to have broken off-let
• With the breach through the descending parallel channel, the asset is currently hovering around the upper immediate resistance
• Hence a breakout from these levels may validate an uptrend towards the next resistance at $190 and eventually seal the levels beyond $200
• However, the possibilities of a drastic pullback appear to be pretty low as a decent buying volume is accumulated 

Additional Read: AAVE Price Prediction

Where & How to Buy Aave (AAVE)

Buying or Selling on CoinDCX is extremely safe and easy. Along with AAVE, you get access to a wide range of cryptocurrencies like DeFi, NFTs, stablecoins, and of course the popular cryptos too. To begin with, all you need to do is just download the CoinDCX App on your smartphone and enter all the required details. The platform verifies the details, posts to which you can fund your wallet and buy your favorite crypto.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

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