{"id":10196,"date":"2022-10-20T08:55:57","date_gmt":"2022-10-20T12:55:57","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=10196"},"modified":"2022-10-20T08:55:57","modified_gmt":"2022-10-20T12:55:57","slug":"aave-price-poised-for-rebound-with-94-on-the-crosshair-time-to-buy","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/10\/20\/aave-price-poised-for-rebound-with-94-on-the-crosshair-time-to-buy\/","title":{"rendered":"AAVE Price Poised For Rebound With $94 On The Crosshair \u2013 Time To Buy?"},"content":{"rendered":"

AAVE is currently in a recovery phase, successfully breaching the crucial $80 psychological resistance marker to trade at $82.52 at the time of this writing, according to tracking from Coingecko<\/a>.<\/p>\n

AAVE manages to move past the crucial $80 resistance marker
\nThe altcoin could be looking at a further push all the way up to $116
\nAAVE continues price pump despite Tron Founder\u2019s massive withdrawal from the crypto\u2019s protocol<\/p>\n

Over the last seven days, the cryptocurrency managed to tally a price increase of 15.4% as it also goes up by 8% on a month-to-date basis.<\/p>\n

The bearish momentum that plunged the crypto space into chaos for the past two months have pulled AAVE price into a falling wedge pattern.<\/p>\n

Source: TradingView<\/a><\/p>\n

Under this, an asset\u2019s price moves into a bullish trend before an immediate correction happens. There are two trendlines that are formed but the consolidation halts when price breaks through the upper trend.<\/p>\n

That movement signals bullish activity and by the looks of it, that\u2019s where AAVE is headed for the next few days.<\/p>\n

AAVE Price Momentum And Analysis<\/p>\n

Over the last four days, AAVE managed to surge by 16.5%, staying true to the nature of its falling wedge pattern despite the crypto market dealing with erratic price movement.<\/p>\n

But, as the pattern<\/a> also suggest, there could be a price lowering momentum for the digital asset as indicated by its daily candle which suggests a retest of the $80 support marker.<\/p>\n

That shouldn\u2019t be a problem, at least for now, for AAVE, as it is predicted to resume its resurgence once the retesting is complete, pushing all the way up to $95 \u2013 and even to $116.<\/p>\n

The crypto\u2019s vortex indicator is not showing any weakness for the upcoming bull run and the increase in trading volumes suggest AAVE is in a genuine price recovery as of this moment.<\/p>\n

Weathering Negative Network Activity<\/p>\n

The altcoin is performing well considering there is negative activity in its network that involves Tron Founder Justin Sun.<\/p>\n

According to data analytics and blockchain security firm PeckShieldAlert, the highly touted crypto figure withdrew<\/a> more than $100 million in USDT stablecoins from Aave Protocol V2.<\/p>\n

The withdrawal was done in two equal transactions worth $50 million each and was completed through a wallet address funded by crypto exchange platform Poloniex.<\/p>\n\n

AAVE market cap at $1.16 billion on the daily chart | Featured image from The Coin Republic, Chart: TradingView.com<\/a><\/p>\n

Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

AAVE is currently in a recovery phase, successfully breaching the crucial $80 psychological resistance marker to trade at $82.52 at the time of this writing, according to tracking from Coingecko<\/a>.<\/p>\n

AAVE manages to move past the crucial $80 resistance marker
\nThe altcoin could be looking at a further push all the way up to $116
\nAAVE continues price pump despite Tron Founder\u2019s massive withdrawal from the crypto\u2019s protocol<\/p>\n

Over the last seven days, the cryptocurrency managed to tally a price increase of 15.4% as it also goes up by 8% on a month-to-date basis.<\/p>\n

The bearish momentum that plunged the crypto space into chaos for the past two months have pulled AAVE price into a falling wedge pattern.<\/p>\n

Source: TradingView<\/a><\/p>\n

Under this, an asset\u2019s price moves into a bullish trend before an immediate correction happens. There are two trendlines that are formed but the consolidation halts when price breaks through the upper trend.<\/p>\n

That movement signals bullish activity and by the looks of it, that\u2019s where AAVE is headed for the next few days.<\/p>\n

AAVE Price Momentum And Analysis<\/p>\n

Over the last four days, AAVE managed to surge by 16.5%, staying true to the nature of its falling wedge pattern despite the crypto market dealing with erratic price movement.<\/p>\n

But, as the pattern<\/a> also suggest, there could be a price lowering momentum for the digital asset as indicated by its daily candle which suggests a retest of the $80 support marker.<\/p>\n

That shouldn\u2019t be a problem, at least for now, for AAVE, as it is predicted to resume its resurgence once the retesting is complete, pushing all the way up to $95 \u2013 and even to $116.<\/p>\n

The crypto\u2019s vortex indicator is not showing any weakness for the upcoming bull run and the increase in trading volumes suggest AAVE is in a genuine price recovery as of this moment.<\/p>\n

Weathering Negative Network Activity<\/p>\n

The altcoin is performing well considering there is negative activity in its network that involves Tron Founder Justin Sun.<\/p>\n

According to data analytics and blockchain security firm PeckShieldAlert, the highly touted crypto figure withdrew<\/a> more than $100 million in USDT stablecoins from Aave Protocol V2.<\/p>\n

The withdrawal was done in two equal transactions worth $50 million each and was completed through a wallet address funded by crypto exchange platform Poloniex.<\/p>\n

AAVE market cap at $1.16 billion on the daily chart | Featured image from The Coin Republic, Chart: TradingView.com<\/a><\/p>\n

Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-10196","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10196","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=10196"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/10196\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=10196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=10196"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=10196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}