AAVE Price Prediction: Surges 20% This Week, Rally Could Extend Above $85

2022-10-20 11:28

AAVE price started a major increase from the $65 support zone. It is up nearly 20% this week and might extend gains above the $85 resistance.

AAVE price gained pace after it surpassed the $75 resistance against the US dollar. The price is trading below $85 and the 100-day simple moving average. There was a break above a major bearish trend line with resistance at $75 on the daily chart of the AAVE/USD pair (data source from Kraken). The pair could continue to rise and might soon test the $100 resistance zone. AAVE Price Starts Fresh Increase

After a steady decline, AAVE price found support near the $65 zone. The price formed a base above the $65 level and started a steady increase.

There was a clear move above the $72 and $75 resistance levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $116 swing high to $65 low. Besides, there was a break above a major bearish trend line with resistance at $75 on the daily chart of the AAVE/USD pair.

The price is now trading near the $85 resistance and the 100-day simple moving average. It is also showing positive signs, outperforming bitcoin and ethereum.

Source: AAVEUSD on TradingView.com

On the upside, an immediate resistance is near the $85 zone. The next major resistance is forming near the $90 zone. It is close to the 50% Fib retracement level of the downward move from the $116 swing high to $65 low. If there is an upside break above the $95 and $100 levels, the price could surge over 10%. In the stated case, the price could rise steadily towards the $100 level.

Dips Limited in AAVE?

If AAVE price fails to continue higher above the $85 or $90 levels, it could start a downside correction. An immediate support on the downside is near the $80 level.

The main support is near the $75 zone. A downside break below the $75 level could open the doors for a fresh decline towards $70. The next major support is near the $65 level.

Technical Indicators

Daily MACD – The MACD for AAVE/USD is slowly losing momentum in the bullish zone.

Daily RSI (Relative Strength Index) – The RSI for AAVE/USD is now above the 50 level.

Major Support Levels – $80 and $75.

Major Resistance Levels – $85, $90 and $100.

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price aave above resistance extend week gains

Источник: newsbtc.com

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Aave Price Prediction 2021-2025 | AAVE Forecast

In this guide, we will voice our own and market’s opinion on Aave future while discussing AAVE price forecast for 2021 and beyond. Please bear in mind that you should take this and any other prediction with a grain of salt since predicting anything is a thankless task, let alone predicting the future of a […] The post Aave Price Prediction 2021-2025 | AAVE Forecast appeared first on CaptainAltcoin.

2021-2-24 13:28


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