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- 1 Aave cryptocurrency is trying to sustain above $75 mark and may surge towards the $100 recovery mark.
- 2 Here are some price targets that AAVE is likely to hit in the future.
Aave crypto price is currently consolidating above the $75 mark to continue its recovery towards the $100 mark by the end of 2023. Till now in 2023, AAVE price has surged by 58.30% year to date. However, AAVE’s journey till now has been very dramatic with so many ups and downs. AAVE had been struggling to move beyond the $95 mark since January 2023. Nevertheless, now Aave cryptocurrency is showing positive signs by sustaining above the $75 mark.
Unlocking DeFi Potential – Aave Crypto Revolutionizes Finance
A decentralized finance (DeFi) cryptocurrency, Aave is a landing platform built on the Ethereum blockchain. On Aave, users can earn interest on their cryptocurrency holdings by allowing them to be lent to others, which is known as a decentralized loan for the borrower. Moreover, Aave crypto’s most exciting feature is its variable and stable interest rates, which allows users to choose the most suitable lending conditions.
The platform’s governance is determined by AAVE token holders, who can actually propose and vote regarding changes to the network. AAVE crypto is more popular because of its lending and borrowing options, which contributes to the growth of decentralized finance.
With its operations on Ethereum blockchain Aave protocol also helps in leveraging smart contracts which ensures transparency and security. Aave is allowing users from all around the globe to manage their assets in the best way possible by lending them to others without intermediaries. This decentralized approach to finance has attracted users and also pioneered the advancements of decentralized finance. Aave’s innovation in providing DeFi solutions have gained investors’ trust which proved to be a transformative player in the continuously evolving blockchain-based finance system.
Aave Cryptocurrency – Liquidation Rates Might Surprise You
Liquidation rates are very crucial in maintaining the stability and security of DeFi lending protocols like Aave.
In the cryptocurrency world, while trading, the “liquidation rate” is like a safety net to prevent you from losing all your money. Imagine you’re trading with borrowed funds, and if the value of what you’re trading falls sharply, you could lose everything.
The liquidation rate is a point at which the system steps in to sell your assets automatically to protect the lender who lent you the money. It’s a way to keep everyone in the trading game safe.
According to Coinglass(dot)com, in the last 24 hours, the total of $162.21K worth of AAVE was liquidated. Moreover, in the last 12 hours around $155.26K was liquidated in AAVE cryptocurrency. Also in the last 4 hours around $25.20K was liquidated. The above chart shows the distribution of AAVE crypto’s liquidation while being with short or long sentiments on the different cryptocurrency exchanges like Binance, OKX and Bybit.
Analyzing Aave Crypto Technical Indications
Aave price forecast 2023 shows the recovery of AAVE crypto above the $75 mark and is currently preparing for $100 mark. Meanwhile, buyers are present in the trade to push AAVE upwards. However, trading volume (23.608K) is below average (62.989K) and needs to grow during the day’s trading session. Meanwhile, AAVE price is above 20, 50, 100 and 200-days daily moving averages.
Aave price was at $83.53 and gained around 4.32% of its market capitalization intraday. However, trading volume fell by 35% during the intraday trading session. This shows that sellers are present in the trade for a pullback. Volume to market cap ratio was at 5.85%.
Aave cryptocurrency gained around 16.88% in a week and 24.87% in a month. Moreover, AAVE surged by 16.13% over the last three months and 19.20% in the last six months. In addition, AAVE token price gained 58.30% year to date.
Technical indicators highlight the upward momentum of AAVE crypto. Relative strength index (RSI) shows the upside trend of AAVE. RSI was at 66 and is moving towards the overbought territory. Investors in Aave cryptocurrency need to wait until AAVE is completely overbought over the daily time frame chart.
Summary
Aave crypto price is consolidating above the $75 mark to continue its recovery towards the $100 mark by the end of 2023. The platform’s governance is determined by AAVE token holders, who can propose and vote regarding changes to the network. Meanwhile, AAVE price is above 20, 50, 100 and 200-days daily moving averages. In addition, AAVE token price gained 58.30% year to date. Technical indicators highlight the upward momentum of AAVE crypto. Investors in Aave cryptocurrency need to wait until AAVE is completely overbought over the daily time frame chart.
Technical Levels
Support Levels: $75.22 and $72.85
Resistance Levels: $88.20 and $94.75
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
