- Bullish Aave price prediction in 2021 is up to $400.
- The bearish price prediction for Aave is $100.
- Moreover, Aave ranks as one of the top 3 cryptocurrencies in the DeFi Pulse.
This Aave Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our Aave price analysis and prediction.
Aave is one of the most famous cryptocurrency in the DeFi space. As a matter of fact, Aave ranks next to Maker, the number one DeFi app on DeFi Pulse. Furthermore, the recent high demand for flash loans and a strong rally in DeFi tokens pushed the Aave price to boost to over +240% in the past 30 days.
In terms of market rankings, Aave’s market capitalization boosted to over +24% in the past 7 days. For this reason, Aave is one of the most monitored digital assets by investors in the crypto market.
Now that we have some idea about Aave, do you think Aave could continue its bullish trend this year? Are you determined to know? Finally, join me and let us head to the charts in this CoinQuora Aave price analysis and price prediction 2021.
Aave Price Analysis 2021
Aave continues to be one of the active digital assets in the crypto world. As a result, the crypto ranks as one of the top 20 cryptocurrencies in Coingecko.
Do you think this is enough to make Aave a profitable cryptocurrency this year? Are you curious enough? Therefore, let us see the charts in this Aave price analysis 2021.
Based on the graph above, Aave maintains its position above the Fibonacci level of 0.236, a bullish territory. Also, the graph displays its uptrend position from the price of $93.78 in Jan 04 to $213.37 on Jan 24 with a growth rate of over +150%. With this in mind, we can say that Aave is a profitable cryptocurrency.
Today, Aave trades a high price of $283 above the Fibonacci golden ratio level of 0.618. If this keeps on, there is a big chance that the crypto might break the resistance level of $290.23. If that happens, the gates will open for the bulls to rally their price beyond $295.
However, if the price of the crypto opens below the Fibonacci level of 0.382, Aave price may break down. In other words, the price of the crypto could nosedive from its current uptrend position. Specifically, Aave’s price may fall to almost $160 with a decline rate by nearly -40%.
In this case, the crypto must overcome the bullish market and head back above the Fibonacci level of 0.382. Otherwise, the bears could gain an advantage against the bulls and further drag Aave’s price to $100, a bearish territory.
Aave Price Prediction 2021
Aave remains to be one of the most active open-source and non-custodial liquidity platforms in the crypto world. Consequently, Aave is one of the most trusted DeFi apps by investors globally.
Would this be enough to make Aave a profitable investment this year? Are you interested already? Hence, Join me and let us find out together in this Aave price prediction 2021.
protocol for earning interest on deposits and borrowing assets.
As shown in the graph above, Aave entered the year 2021 with the bullish market on its side. For this reason, Aave’s market capitalization now amounts to over $3 billion with an average daily trading volume of $700 million.
Recently, Aave has been trading at a high price of $283 above the Arnaud Legoux Moving Averages (ALMA), a bullish position. In addition, the graph also shows how Aave breaks one resistance to another to maintain its current uptrend position. If this bullish performance goes on, the crypto might break its latest $290.54 price level.
Granted that, the doors towards the bullish price beyond $300 will open, an event favored by the investors. Furthermore, if Aave keeps its aggressive performance, the crypto’s price could reach the bullish price of $400. Of course, this is more likely to happen if the bullish market remains to side with Aave.
However, if the bullish market turns against the crypto, the price of Aave might fall. In short, the price of the crypto might plummet to almost $185 and even go down to $146. Indeed, this is not a price level favored by the investors.
In this case, Aave must regain its composure and head back to its uptrend position above ALMA. Otherwise, the bearish market might overcome Aave’s market position and drag its price down to $100. Truly, this is a level that could trigger FUD among investors.
Aave Price Prediction 2021 – RSI and MACD
Meanwhile, moving average convergence/divergence (MACD) of Aave remains on top of the signal indicator. In other words, traders can still expect more bullish days ahead. Conversely, the relative strength index (RSI) of the crypto is already at the oversold state. With this in mind, traders, especially swing and day traders must trade with caution since Aave might soon trigger a major price reversal.
Aave is one of the leading DeFi apps in the DeFi space. Currently, Aave ranks second in DeFi Pulse with a total value locked (TVL) of almost $4 billion.
Aave is one of the active cryptocurrency that continues to break one resistance level to another. If this continues, the price of the crypto could go beyond its current price of $290.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.