AAVE Price Jumped 24% and Hit New YTD High at $129; What’s Next?

AAVE price prediction suggests bulls are back and ready to push the price to the new swing highs. It surged 24% in the last two trading sessions and broke out of the $110.00 hurdle with a massive volume. 

Aave price pattern displayed this breakout looks reliable and more upward momentum is possible. After a long time, this crypto price gained momentum and formed a giant bullish candle. 

The sudden rise in Aave has attracted the attention of long-term investors. So, if the price holds the higher levels, new investors may also participate. The chart pattern of Aave is clearly bullish and the price is rising upward by forming higher high swings. 

The volume is also on the rise and the price is positively correlated with it. So, it is an indication that big players and genuine investors might have taken longs and participated in the recent move. 

The 50-day and 200-day EMAs are sloping upward and the price is sustaining above the EMSs. It showcases a strong uptrend and the confidence of long-term investors. Currently, the AAVE coin price is trading at $125.64 with an uptick of 12.18%.

Is AAVE Price Still Cheap; Good For Long-Term Pick?

AAVE price hit a new year-till-date high in today’s session. It shows that buyers have finally taken control of the $110.00 zone. So, from now onwards, the new demand zone is in the range between $100 to 110. 

Any short-term retracement in the coming future will be an opportunity for investors to build fresh longs. Furthermore, the existing Aave investors may look to accumulate more to increase their returns. 

The analysis suggests that the Aave price is at attractive levels and looks like a good pick for long-term investment. 

Will the Aave Price Consolidate or Rise Further?

The Aave price has now turned bullish on the weekly chart. The buyers are strengthening their grip to hit new swings high. On the higher side, the next resistance for this coin will be in the range between $140 to $150. 

However, before hitting further highs, Aave might spend some time in narrow-range consolidation for base formation. In the upcoming bull run the Aave crypto might also become one of the favorite picks for the investors. So, it is possible that this crypto might reward and generate outstanding returns for its investors.

Conclusion

AAVE price prediction says bulls have taken control over the $110 level and bears decided to step back. Therefore, new swing highs are possible in Aave which might reward the investors in the long run. 

Technical levels

• Resistance levels: $130.01 and $140.02
• Support levels: $110.00 and $97.37

Disclaimer

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

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.