AAVE Price Gains 110% in 30 Days But Momentum Begins to Fade
The post AAVE Price Gains 110% in 30 Days But Momentum Begins to Fade appeared on BitcoinEthereumNews.com.
AAVE price continues to surge, cementing its position as the biggest lending protocol in crypto with a market cap of $5.5 billion—more than all other top 10 lending protocols combined. The token has risen an impressive 220% this year and 110% in just the last 30 days, driven by strong bullish momentum and increasing market interest. Technical indicators such as the RSI and CMF highlight ongoing positive trends, though some signs of cooling momentum suggest potential consolidation ahead. AAVE RSI Is Neutral After Almost Reaching the Overbought Zone AAVE Relative Strength Index (RSI) is currently at 59.2, down from 69.19 on December 23, when its price peaked at $382. This decline in RSI suggests that AAVE price has moved away from overbought territory, where heightened buying pressure typically precedes a price correction. While the current RSI still reflects relatively strong momentum, the pullback indicates that the market may be stabilizing after a period of intense buying activity. AAVE RSI. Source: TradingView RSI is a momentum indicator that measures the speed and magnitude of price movements on a scale from 0 to 100. Values above 70 indicate overbought conditions, signaling the potential for a correction, while values below 30 suggest oversold conditions, often preceding a rebound. With AAVE RSI at 59.2, the coin remains in a neutral-to-bullish range, signaling that the uptrend could continue in the short term if buying momentum rebuilds. However, the decline from overbought levels also suggests that AAVE price may consolidate, allowing the market to absorb recent gains before deciding its next direction. AAVE CMF Is Still Very Positive, But Down From The Recent Peak AAVE’s Chaikin Money Flow (CMF) is currently at 0.17, maintaining a positive trend since December 23, when it reached a peak of 0.27. This indicates that AAVE has been experiencing consistent capital…
Filed under: News - @ December 25, 2024 10:12 pm