AAVE/USD Faces Major Correction Below $89.95

The Aave price prediction is currently fighting to trade near the resistance level of $90 as the coin retreats below the upper boundary of the channel.

Aave Prediction Statistics Data:

• Aave price now – $87.22
• Aave market cap – $1.23 billion
• Aave circulating supply – 14 million
• Aave total supply – 16 million
• Aave Coinmarketcap ranking – #44

AAVE/USD Market

Key Levels:

Resistance levels: $105, $110, $115

Support levels: $75, $70, $65

AAVE/USD opens today’s trade with the opening price of $88.79, during the European session; the coin begins to drop like a stone towards the support at $85. At the time of writing, the Aave price is changing hands at $87.22, slightly down by 1.79% after a rebound from the $85.8 level. Currently, the daily chart reveals that the technical indicator Relative Strength Index (14) is attempting to cross below 60-level, which means the coin could be vulnerable to further losses.

Aave Price Prediction: Will AAVE see a Further Downside?

According to the daily chart, if the sellers bring the Aave price beneath the daily low at $85.80, the next support could head towards the 9-day and 21-day moving averages and a further downside may come to play out within the market in the negative moves. Moreover, if the $85 support breaks, further support levels could be located at $75, $70, and $65 while the resistance levels could be located at $105, $110, and $115 should in case the Aave price crosses above the channel.

Moreover, the technical indicator Relative Strength Index (14) nose-dives below the 60-level, if the market successfully gains more downsides, the increased bearish pressure could drive the Aave price towards the lower boundary of the channel. But, the signal line could drop more and may look primed for another bearish crossover signal.

Against Bitcoin, traders can see that the Aave price is following a bullish movement. However, as the price increases, buyers keep pushing the price to the upside as it could reach the resistance level of 4700 where the nearest target is located. More so, the continuation of the uptrend could hit the main resistance level at 5200 SAT and above.

Meanwhile, if the sellers bring the coin below the 9-day and 21-day moving averages, it could reach critical support at 4000 SAT and below. However, the Relative Strength Index (14) is now focusing on the upside, indicating that more buyers may come to play.

At the time of writing, the IMPT token is already on presale, and in less than a few weeks, the token managed to raise more than $7 million. However, with over 25,000 affiliates joining their network and using their services, IMPT has a solid foundation to make a significant leap once their presale ends.

Stage one of the Dash 2 Trade presale has been sold out and this took less than 4 days. At the moment, D2T is still cheap at 0.05 USDT in stage two, the amount raised so far approaches $2 million.

Related:

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