Will Aave Break 200-Day EMA?
AAVE price prediction suggests that the Aave crypto is presently moving in an uptrend after breaking out of the bear’s stronghold. The price is trading above the critical EMAs and is trying to break the 200 EMA on the daily timeframe. The decline in volume shows a drop in activity.
If the price gains buyers’ support at the present level, it could surge up to the $70 mark within the next few weeks, whereas the immediate support level for AAVE is around $62.00. The price movement is relevantly more stable for Aave crypto than other major cryptocurrencies right now.
The buyers have an adequate probability of attaining the expected target if they are able to break the price above the 200 EMA which would put the anticipated outcomes in the bulls’ favor
AAVE price has been in a bull trend for the past few months. After breaking out, Aave crypto price found consistent support from the bulls from the trendline. Observing the historical price action, it can be estimated that the 200 EMA level has been acting as a crucial resistance zone.
Technical Analysis of AAVE Crypto Price in 1-D Timeframe
AAVE (USD: Aave) is on a steady upward facing path, having gained 11.57% in the past three months and 16.08% last month. Currently, Aave crypto is trading at $63.69 and has been trying to hold on to this level after an unexpected surge in price.
If it can stay at this level, AAVE price could continue to go up and reach the first and second targets of $66.65 and $77.82, respectively. However, if the Aave price does not stay at this level, it might hit the closest support levels of $58.33 and $47.16.
Currently, AAVE crypto (USD: Aave) is trading above the 50 and 100-day EMAs (exponential moving averages), which are supporting the price momentum.
However, if buying volume adds up, then the price might support the bullish momentum by making higher highs and new highs. Hence, AAVE price is expected to move upwards, giving bullish views over the daily time frame chart.
The current value of RSI is 63 points. The 14 SMA is above the median line at 50.89 points which indicates that the AAVE crypto is bullish.
The MACD line at 1.28 and the signal line at 0.02 are above the zero line. A bearish crossover is observed in the MACD which signals weakness in the momentum of the Aave crypto.
Summary
AAVE (USD: Aave) technical oscillators support the bullish trend. The MACD, RSI, and EMAs are emphasizing positive signs and imply that the uptrend may continue in the Aave crypto price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. However, investors and traders should wait for proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: $58.33 and $47.16.
- Resistance Levels: $66.65 and $77.82.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
