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In this analysis, I want to review the AAVE coin for you. The AAVE project is one of the largest DeFi projects, operating in the lending sector, and holds the highest TVL among all projects in this category.
✔️ Currently, the coin of this project has managed to achieve a $2 billion market cap and with this market cap, it ranks 39th on CoinMarketCap.
📅 Daily Time Frame
In the daily time frame, as you can see, after a long-term uptrend that reached up to 383.59, the price entered a corrective phase and, following the break of the 278.56 zone along with a descending trendline, dropped to the 124.31 level.
💫 The 124.31 support is a very strong one, and the price has reacted well to it. The buying candle volume has increased after the price reached this zone, which indicates the strength of this support.
💥 If this support breaks, the price could begin its next bearish leg. The next support that AAVE has in this time frame is at 77.45, which could prevent further decline in case of a sharp bearish move.
📈 For a long position or spot buy, we first need to wait for the descending trendline to break, and for the price to form a higher low and high above this trendline to confirm a trend reversal.
🔼 Currently, the main bullish trigger is at the 194.97 level, and if this level breaks, the price could move back toward the 278.56 and 383.59 zones.
📉 For a futures position, the 148.17 level is a suitable trigger and can offer a risky long position. However, the spot buy and main position trigger is the 194.97 level. A break of the 50 level on RSI would bring bullish momentum into the market and can serve as a good confirmation for a long position.
🧩 For a short position, breaking the 124.31 level is a good trigger, and if this level breaks and RSI enters the oversold zone, the price could make a sharp bearish move.
📊 But more important than all is the market volume, which currently doesn’t have a clear trend. We’ll have to see whether, upon breaking 124.31 or 148.17, sufficient volume enters the market or not.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I want to review the AAVE coin for you. The AAVE project is one of the largest DeFi projects, operating in the lending sector, and holds the highest TVL among all projects in this category.
✔️ Currently, the coin of this project has managed to achieve a $2 billion market cap and with this market cap, it ranks 39th on CoinMarketCap.
📅 Daily Time Frame
In the daily time frame, as you can see, after a long-term uptrend that reached up to 383.59, the price entered a corrective phase and, following the break of the 278.56 zone along with a descending trendline, dropped to the 124.31 level.
💫 The 124.31 support is a very strong one, and the price has reacted well to it. The buying candle volume has increased after the price reached this zone, which indicates the strength of this support.
💥 If this support breaks, the price could begin its next bearish leg. The next support that AAVE has in this time frame is at 77.45, which could prevent further decline in case of a sharp bearish move.
📈 For a long position or spot buy, we first need to wait for the descending trendline to break, and for the price to form a higher low and high above this trendline to confirm a trend reversal.
🔼 Currently, the main bullish trigger is at the 194.97 level, and if this level breaks, the price could move back toward the 278.56 and 383.59 zones.
📉 For a futures position, the 148.17 level is a suitable trigger and can offer a risky long position. However, the spot buy and main position trigger is the 194.97 level. A break of the 50 level on RSI would bring bullish momentum into the market and can serve as a good confirmation for a long position.
🧩 For a short position, breaking the 124.31 level is a good trigger, and if this level breaks and RSI enters the oversold zone, the price could make a sharp bearish move.
📊 But more important than all is the market volume, which currently doesn’t have a clear trend. We’ll have to see whether, upon breaking 124.31 or 148.17, sufficient volume enters the market or not.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💥 Don’t Miss Out!
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Best Crypto Exchange: bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.