At the time of writing AAVE is being traded at the price of $181.87. The price of AAVE has decreased by almost 5.54% in the past 24 hours. The maximum and minimum of the day are around $197.22 and $179.96. The daily trading volume has also decreased by almost 24.44% in one day. AAVE is listed on coinmarketcap at 59th spot according to market capital and has a market dominance of about 0.11%.
AAVE before the crash had achieved its all-time high around the price of $668 in March 2021. During the crash, it created a bottom and dropped down to $170.1. Just like many other coins, the coin showed reversal but it wasn’t strong enough and now is at the bottom once again. In fact, it had a wick down to $159.2
AAVE has a total supply of around 16M tokens and has the same amount of coins in circulation i.e. 13.4M. It can be traded at a lot of different exchanges such as Binance, Mandela, Upbit, Huobi with different trading pairs.
Technical Analysis – AAVE
AAVE on the daily time frame has been bearish on weekly time frame. During the crash, the price created a bottom, from where it had shown reversal. The price after that started to create a higher point but it failed and started to drop again.
Now when the price showed reversal, it created a weekly order block, which hasn’t been mitigated. Now on the other hand, at the bottom, there is another order block that hasn’t been mitigated as well.
We can expect the price to touch the order block at the bottom because it has lost a very important level when it dropped down the weekly level. From there we can look for a possible long with a target at the weekly order block above. From there, we can look for a possible entry depending on the lower time frame confirmations. If the price stabilizes, we can look for a possibly a long, and if it drops, it can be short.
Price Prediction
AAVE(AAVE) has been one of the highly bullish coins in the market. According to wallet investor, AAVE in one year is expected to reach a value of $265.731. In five years, it is expected to touch $580.585. This is almost four to five times the current price.