Aave's price continues its rally, aiming to reach the resistance level of $172.49. This article will examine current market movements, key levels, and possible forecasts for AAVE/USD and AAVE/BTC.
Current Price and Volatility
Aave's current price is $169.52, with a market capitalization of $2.52 billion and a circulating supply of 14.9 million coins. Aave ranks #38 on Coinmarketcap. Over the past 24 hours, the price has fluctuated between $163.63 and $172.00. Currently, AAVE is down 74.85% from its all-time high of $666.86, reached on May 18, 2021.
Key Levels in the AAVE/USD Market
On the daily chart, AAVE/USD trades above the 9-day and 21-day moving averages, approaching the upper boundary of a long-term ascending channel. This level has previously acted as resistance multiple times. The price continues to hover around this level for two consecutive days, contemplating a breakout. If this level is successfully breached, the price could aim for further resistances at $195, $200, and $205. Conversely, if the price fails to break through, it may fall back to support levels at $145, $140, and $135.
Aave Forecast Against Bitcoin
Against Bitcoin, Aave maintains its bullish movement, trading above the 9-day and 21-day moving averages. The current price is 2553 SAT. If the current trend continues, the price could reach resistance levels at 3100 SAT and above. Conversely, a decrease may lead to support levels at 2000 SAT and below. Analyst @SatsDoji, with over 12,000 followers on X (formerly Twitter), noted that $AAVE shows significant bullish momentum. According to him, the token has completed its accumulation phase and is ready to expand.
Recently, Aave's price has shown significant volatility, approaching key resistance levels. Observing its further movement and response to these critical levels will be crucial for assessing the token's future prospects.
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