Aave Price Prediction: Will AAVE Escape Consolidation Phase?

Aave price prediction showcases the consolidation phase of AAVE crypto over the daily time frame chart.
AAVE crypto is trading below 20, 50, 100 and 200-days Daily Moving Average.
The pair of AAVE/BTC was at 0.00249 BTC with an intraday drop of 1.81%.

Aave price prediction indicates the upside trend of AAVE crypto from the lower trendline of the consolidation phase over the daily time frame chart. AAVE crypto needs to break out from the upper limit of the consolidation phase to initiate its recovery phase. However, sellers pulled the AAVE crypto price towards the lower limit as AAVE price failed to sustain at the upper threshold.

Aave price was at $72.71 and has gained 2.11% of its market capitalization during the day’s trading session. Trading volume has increased by 16.23% during the intraday trading session. This demonstrates that buyers are trying to push the AAVE crypto towards the upper threshold. Volume to market cap ratio was at 0.0413.

Aave Price Prediction: Technical Analysis!

AAVE Price prediction indicates the recovery of AAVE crypto price from the lower support line of the consolidation phase over the daily time frame chart. Meanwhile, AAVE needs to maintain the current accumulation rate of buyers in order to provide a kickstart to the token. However, trading volume is still below average and needs to grow for AAVE to remain in the uptrend. AAVE crypto price has been consolidating inside the horizontal price range of $68.10 and $75.00 over the daily time frame chart.

AAVE crypto has gained 39.45% year to date suggesting the recovery phase during 2023. Meanwhile, AAVE crypto is trading below 20, 50, 100 and 200-days Daily Moving Average.

Technical indicators suggest the sustainability of AAVE crypto price at the lower trendline of the consolidation phase. Relative strength index showcases the uptrend momentum of AAVE price over the daily time frame chart. RSI was at 48 and is heading towards neutrality.

MACD exhibits the uptrend velocity of AAVE crypto price. The MACD line is surging towards the signal line for a positive crossover. Investors in AAVE cryptocurrency need to wait until AAVE crypto regains constant upward velocity.

Summary

Aave price prediction indicates the upside trend of AAVE crypto from the lower trendline of the consolidation phase over the daily time frame chart. Meanwhile, AAVE needs to maintain the current accumulation rate of buyers in order to provide a kickstart to the token. Technical indicators suggest the sustainability of AAVE crypto price at the lower trendline of the consolidation phase. The MACD line is surging towards the signal line for a positive crossover. Investors in AAVE cryptocurrency need to wait until AAVE crypto regains constant upward velocity.

Technical Levels

Support Levels: $70.00 and $68.10

Resistance Levels: $75.00 and $78.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss