Aave Price Prediction – Will Aave Price Hit $600 in 2021?

This Aave Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our Aave price analysis and prediction.

Over the past few weeks, the crypto market seems to be making a fast recovery. After the dip in the past two months, the crypto market has either remained stable or growing steadily. At the moment, it seems that the digital asset industry might finally be on the up and up again.

Will AAVE experience the same price volatility? We’ll find out soon in this AAVE price analysis 2021 article. But first, let’s have a look at what AAVE is.

What is Aave Token (AAVE)?

Aave is a decentralized finance (DeFi) protocol that enables users to borrow and lend cryptocurrency. Moreover, lenders can earn interest by depositing crypto assets into specially developed liquidity pools. Even more, the borrowers can utilize their digital assets as collateral to take flash loans with liquidity.

Aave was originally called as ETHLend when it launched in November 2017, however, the rebranding to Aave occurs in September 2018. More so, AAVE offers holders discounted fees on the platform, and it also works as a governance token providing owners a say in the future development of the protocol.

Now that we are clear about AAVE do you think AAVE will be beneficial crypto in 2021? Join me and let us see the charts in this AAVE price analysis and AAVE price prediction.

Aave (AAVE) Current Market Status

As of the time of writing this Aave Token price analysis, AAVE trades at $404.16 with a 24-hour trading volume of $546,825,212. The price of AAVE has increased by 7% in the last 24 hours. Currently, the top cryptocurrency exchanges for AAVE are WBF Exchange, Binance, OKEx, FTX, and Tokocrypto. Now, let’s go to the next part of this AAVE technical analysis for 2021.

That said, is Aave Token a good cryptocurrency to invest in 2021? Let’s find out in this Aave Token price prediction 2021 article.

Aave (AAVE) Price Analysis 2021

Currently, AAVE holds 29th place on CoinGecko. But will the latest upgrades, development, and changes in the AAVE blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this AAVE price prediction article.

In the chart above, which is set in a daily time frame, we can see the Ascending Channel Trend pattern. An ascending channel is the price action that takes place in an upward direction through a rising parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. Moreover, this pattern represents a short-term bullish.

As shown above, at the beginning of this month, AAVE turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

The Relative Strength Index (RSI) is at 70.6, which means that AAVE is in an overbought state. With this traders need to stay cautious while trading, turning away from further losses.

Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of AAVE

Since the start of 2021, AAVE’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, AAVE has a competitive market this 2021.

Aave (AAVE) Price Prediction 2021

The chart below shows that AAVE has performed great over the past few days. Moreover, the AAVE price shows a bullish trend. If this trend continues, AAVE might run along with the bulls, overtaking its $509 resistance level and move even higher to $600.

Conversely, if the investors turn against the crypto, the bears might take over and push AAVE from its uptrend position. In simpler terms, the price of AAVE might decrease to almost $311, a bearish signal.

Meanwhile, our long-term AAVE price prediction 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.

Aave (AAVE) Price Prediction 2022

If this bullish trend continues, Aave Token will reach $700 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $750. Then this rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $700 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Aave (AAVE) Price Prediction 2023

If AAVE holds the support level around 200-MA, the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $850, making it not plummet but play consistently.

Aave (AAVE) Price Prediction 2024

As per the latest upgrades, developments, AAVE price prediction, and new project forecasts of the platform, AAVE investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of AAVE in the crypto market, and it will be the best investment as the price can spike and reach around $950.

Aave (AAVE) Price Prediction 2025

In the next four years, AAVE prices could race up to $1050. However, reaching this level could not be so difficult for AAVE as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that AAVE has a high possibility of reaching new ATH soon in the next five years as per the prediction.

Conclusion

Aave Token has a bright future ahead of it in 2021. With the ongoing developments happening within the AAVE ecosystem, as well as in the overall crypto market, we may see AAVE reach new heights.

Bullish AAVE price prediction 2021 is $600. As said above, it may even reach its new ATH if investors have decided that AAVE is a good investment in 2021, along with mainstream cryptocurrencies.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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