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AAVE Price Analysis: Strong supply side beneficial in long run

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  • The 24 hours trading volume of the token was 234,242,071 and the low of 16.72% was seen. The live price of AAVE is $249.64.
  • The token has shown the pattern of morning doji stars in the last 24 hours..
  • The RSI oscillator for AAVE shows the SELL action.
Tradingview

The AAVE has been running by taking support from its 200 days moving average but below its 50 days moving average. The chart above shows the movement of the token with respect to SMA-20, SMA-50 and SMA-200. SMA-20 has been taking support from SMA-200 as the token is presently running below SMA-50. However, we have seen the ups and down movement of the token(SMA-20 with SMA-50) frequently. The horizontal line marked in the chart shows the movement of SMA-20 when moved above SMA-50 and the circle marked shows the same. The trendline showing SMA-20 below 50. Thus, the returns were higher before and it has been expected that the downtrend would come now and SMA-200 might lose its strength to provide support.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 38.126 and marks the sell action. MA-5, MA-10 and MA-20 show the sell action as well. Also EMA-5, 10 and 20 shows the same sell action. However, the AAVE at present is all set to sell and the trend would be going down in the coming time. If you wish to hold longer then do it otherwise sell it.

The bull/bear power has the value of -13.9760 and shows the sell action. The high/low marks the sell action with the value of -2.7293.

The AAVE-BTC pair is trailing at the level of 0.007871 and the low of 4.39% was seen whereas the AAVE-ETH pair is trailing at the level of 0.1316 and the low of 1.28% was seen in the last 24 hours. The token has shown the percentage change by 5.93% since yesterday’s open.

LEND has migration for 1 AAVE at a rate of 100 LEND

LEND has migrated to AAVE at a rate of 100 LEND per 1 AAVE. For more information, please see Aave’s announcement

 

The volume/market cap of the token is 0.07285 and its market dominance is 0.27%. The holder’s addresses are 86,150 and total active addresses in the last 24 hours are 2,069. Its top 10 and 20 holders have holdings of more than 75% whereas its top 50 and 100 holders have more than 85% holdings. This shows that the supply side is strong.

Conclusion: The days range for the coin is 247.96-265.56 and presently is at 249.65. The token is expected to show rise in the coming time and if you wish to purchase this token then long it but this buying should be beneficial only in the long run. SMA-20 has gained sufficient support from SMA-200 and the recently formed candle is showing a fall and thus it is expected to continue the same. In the long run the token is worth it as the supply side is strong for the token.

Technical Instruments:

Pivot: 252.54

R-1: 256.36

R-2: 258.71

S-1: 248.72

S-2: 246.37

Note:

  • The unit is USD
  • SMA-20: Green colour
  • SMA-50: Red colour
  • SMA-200: Blue colour