The AAVE price has illustrated a bullish trend with a successful retest of the 100-day EMA mark. Buyers are showing a willingness to maintain the price above $150 in the near future. The price action suggests a rounded bottom formation, anticipating a significant pullback from the EMA mark. Despite the broader crypto market downturn, AAVE has only seen a 15% decline, demonstrating strength in the bullish region.

Currently, Aave token (AAVE) is trading at $115.67, up 1.57% intraday, displaying balance on the charts. The monthly and yearly return ratios are -17.89% and 58.90%, respectively. The AAVE/BTC pair stands at 0.00170 BTC, with a market cap of $1.74 billion. Analysts maintain a neutral stance, expecting a potential uptrend for AAVE in the near term, possibly reaching $150.

AAVE Price-to-Volume Profile on Daily Timeframe

The AAVE price trend remains bullish with a healthy retracement to the 100-day EMA, signaling a potential continuation of the upward momentum. Increased trading volume of $80.41 million suggests growing investor interest.

Price Volatility and Weighted Sentiment Outlook

Price volatility is average with low-volume buying activity, while the total weighted sentiment remains negative at around -0.747, indicating a pessimistic outlook.

Social Dominance and Holders Data Overview

Social dominance activity increased by 12% to 0.066%, reflecting growing engagement. The number of holders is steadily rising, reaching $166k this week.

Development Activity and Open Interest Analysis

Development activity dropped by 15% to 19.1, although derivative data indicates a long buildup with open interest rising by 3.38% to $70.12 million in the last 24 hours.

Fibonacci levels show AAVE price at the 38.2% zone, trading near the Bollinger Band mid-region close to the $110 support level. The RSI remains oversold with a negative crossover signal.

The total supply of AAVE is 16.25 million, with a volume-to-market cap ratio of 0.0463. AAVE is ranked 68th in the global crypto market by market cap.

Summary

AAVE has revisited the $110 support level and is expected to bounce back soon. However, a decline towards the 200-day EMA zone may see sellers pushing for a test of the $100 level.

Technical Levels

Support Levels: $105 and $100

Resistance Levels: $120 and $135

Disclaimer

The information provided in this article is for informational purposes only and should not be considered financial or investment advice. Any views expressed do not necessarily reflect the opinions of the author or any other individuals mentioned.