Before talking about AAVE price and all, let’s understand what is Aave.
What is Aave (AAVE)?
AAVE is the native token of Aave, an Ethereum-based crypto borrowing and lending DeFi platform. AAVE was introduced in 2017 to enable users to build and use liquidity pools for digital and physical assets.
Additionally, Aave enables lenders to receive interest payments for securing their assets in the pool. Borrowers can also use decentralized smart contracts to access loans backed by cryptocurrencies. AAVE token holders receive voting privileges to take part in the protocol’s governance.
AAVE Price Prediction 2022
Currently, Aave (AAVE) is ranked 52 on CoinMarketCap. The 2022 AAVE price forecast is described below with a daily time frame.
The rounding bottom pattern was illustrated in the Aave (AAVE) chart above. The price movements create a bow-like pattern that is also referred to as the saucer bottom pattern.
An overall price reversal is indicated by the rounding bottom pattern. As the trend appears to change from bearish to bullish, this pattern also highlights the shifts in market sentiment.
Investors typically need to exercise caution and develop good market timing skills. Price will enter a confirmed bullish trajectory if it breaks through the resistance level and continues moving upward.
AAVE is currently trading between $61.3 and $61.4. Moreover, the price of AAVE may hit the $65.2 and $79.0 resistance levels if the pattern holds. If the trend changes, AAVE’s price could drop to $59.3 or $53.0.
AAVE Support and Resistance Levels
The graph below demonstrates the support and resistance levels of AAVE.
The following can be clearly interpreted as the resistance and support levels for Ave from the aforementioned daily time frame (AAVE).
According to the charts, Aave (AAVE) has been performing in a bullish trend over the previous month. If this pattern holds, AAVE might cross over its $171.6 resistance level with the bulls.
Aave’s (AAVE) price may consequently fall to almost $45.8 if investors start to turn against cryptocurrencies, which would be a bearish sign.
Aave (AAVE) Price Using RVOL, MA, and RSI
The chart below shows the Relative Volume (RVOL) of Aave (AAVE). It serves as a gauge of how the previous trading volume has changed over time in comparison to the current trading volume. Current weak participants in the trend are indicated by the RVOL of AAVE, which is below the cutoff line.
The chart above also displays the Moving Average (MA) of Aave (AAVE). Notably, the Aave (AAVE) price is in a downtrend because it is below the 50 MA (short-term).
AAVE has now transitioned into a bearish state. As a result, a reverse in the AAVE trend is possible at any time.
The AAVE’s relative strength index (RSI) is currently 39.32. This indicates that AAVE is oversold. This suggests that AAVE’s price may significantly reverse in the coming days. Therefore, traders must trade cautiously.
Aave (AAVE) Price in 2023
If the downward price action completely slows down in momentum and the trend reverses, Aave (AAVE) could reach $65 by 2023.
Aave (AAVE) Price in 2024
After several network upgrades, AAVE may start to rise. If major investors show interest in the coin, AAVE could soar to $70 by 2024.
Aave (AAVE) Price in 2025
If it is able to hold key resistance levels and remains a top investment pick for the ensuing three years, Aave (AAVE) could increase to $75.
Bottom Line
We can predict that 2022 will be a successful year for AAVE thanks to ongoing network improvements. Because of this, $171.6 is the bullish price forecast for Aave (AAVE) in 2022.
The bearish price forecast for Aave (AAVE) for 2022 is $45.8, on the other hand.
Furthermore, AAVE’s performance would aid in exceeding its current all-time high (ATH) of $661.69 very soon thanks to improvements and advancements made to the Aave ecosystem.
However, if investors think AAVE is a wise investment in 2022, it might also reach $62.
FAQ
1. What is Aave (AAVE)?
Aave is the name of the governance token for the DeFi cryptocurrency borrowing and lending platform. In 2017, AAVE first went live.
2. Where can you purchase Aave (AAVE)?
Aave has been listed on numerous cryptocurrency exchanges, including Binance, OKX, Coinbase Exchange, LBank, MEXC, and Bybit.
3. Will AAVE reach a new ATH soon?
There is a good chance that the Aave (AAVE) will soon reach its all-time high (ATH) given the ongoing developments and improvements it has undergone.
4. What is the current all-time high (ATH) of Aave (AAVE)?
On May 18, 2021, Aave (AAVE) reached a new ATH of $661.69.
5. Is AAVE a good investment in 2022?
Aave appears to be one of the top-performing cryptocurrencies this year (AAVE). Based on Aave’s recent achievements, which have been documented, it is thought that AAVE will be a profitable investment in 2022.
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