AAVE Price Bottoming Out? Analysts Predict Surge to $600
The post AAVE Price Bottoming Out? Analysts Predict Surge to $600 appeared on BitcoinEthereumNews.com.
Crypto analyst Michaël van de Poppe indicates AAVE price displays signs of reaching its lowest point during an analysis of its potential recovery phase. According to Van De Poppe, “Massive weekly candle on AAVE. That doesn’t imply we’ll continue to fall from here, it’s likely a bottoming procedure.” He predicts that AAVE could reach $450–$600 within the next 3–6 months. At press time, AAVE held its value at $248.96 while demonstrating a 1.69% increase over the past 24 hours and a 2.65% growth in the week’s trading. The daily trading volume exceeds $386.04 million while the market capitalization reaches $3.75 billion. Key Resistance and Support Zones For AAVE to establish bullish momentum it needs to surpass the resistance between $473.13 to $546.54 before confirming an upward trend. A price climb above the middle Bollinger Band at $288.04 would indicate more ascension possibilities for AAVE token. The key support zone stretches from $113.51 to $72.40 located at the “Area to Hold.” Bears may find safety from market downturns in the previous accumulation zone that extends across this region. Source: X Buyer confidence shows signs of weakening when prices fall to this particular level yet this point adds potential for a market rebound. – Advertisement – Technical Indicators Signal Potential Reversal AAVE trading activity currently positions itself just below $215.47 within the Bollinger Bands meaning the market displays oversold conditions. The Relative Strength Index stands at 39.84 which indicates that AAVE crypto had reached its oversold state. A Relative Strength Index reading above 50 would indicate a strengthening bullish momentum. Analysis of MACD indicators shows a bearish trend since the MACD line (-20.11) lies under the signal line (-14.68). However, the narrowing gap between the lines hints at a potential bullish crossover. The technical development points towards short-term market recovery while trading…
Filed under: News - @ February 12, 2025 2:26 am