Why AAVE Price Could Be the Next Big Altcoin to Watch This Month?

The AAVE price has maintained its value above its important support trendline, suggesting a strong bullish outlook for the altcoin in the crypto space. Further, with sentiment turning bullish, the AAVE coin is projected to gain significant traction during the upcoming altcoin market.

Considering the present market situation, will the price of AAVE rally toward a new ATH this altcoin season? In this article, CoinPedia’s expert panel has uncovered the possible short-term price mysteries of the Aave (AAVE) cryptocurrency.

AAVE Coin Price Retests Its Crucial Support Zone of $290!

The Aave token has successfully maintained its value above its $290 mark with an intraday jump of 5.32%. Moreover, with a 24-hour trading volume of $594.73 million, this altcoin has a market capitalization of $4.44 billion and has secured the 31st position in the global crypto market.

The Relative Strength Index (RSI) shows a bullish curve in the daily time frame. Moreover, its average trendline records a potential positive crossover in the daily time frame. This suggests an increase in the buying-over-selling pressure for the altcoin in the market.

Further, the EMA 50-day is on the verge of experiencing a bullish convergence in the AAVE price chart. This highlights that the altcoin may continue gaining value in the upcoming time.

Will Aave Crypto Rise Back Up?

If the bulls regain momentum, the AAVE coin price will reclaim its resistance level of $300. Further, if the bullish sentiment intensifies, this could push the price of this altcoin toward its upper resistance level of $350 this month.

However, if the bears gain dominance, the price of AAVE could break below its important support zone. Moreover, if the bears maintain momentum, it could plunge toward its lower support level of $250 in the coming time.

Considering stacking AAVE tokens before the altcoin season kickstarts? Read our AAVE Price Prediction!

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