AAVE Price Analysis October 2022
AAVE is a token of the platform Aave. Its current price is around $82.08 at the time of writing, with a low of $45.98, and it has a market cap of 1.3 billion dollars.
AAVE Coin Market Analysis
AAVE has a total supply of 16,000,000 coins worth around $82.08 with a market volume of 167 million dollars, whereas the market capitalization is 1.3 billion dollars at writing. Since October 13, the Aave (AAVE) price has increased. This trend is expected to last until $90.50 – $96.50 and, possibly, higher.
The price of AAVE has decreased recently, following a descending resistance line since reaching its all-time high in May 2021. The movement led to the minimum price of $45.6 in June 2022. A breakout took place in July, but the price has yet to start rising and is now trading close to its initial values.
Aave has now banned Justin Sun’s address after he received $0.1 worth of blacklisted cryptocurrency Tornado Cash as a random transaction in August. The total supply of USDT in the system has now declined to $250m, a drop of nearly 17 percent. Although the news might seem a little bit worse, the price has been moving upwards since creating a long lower wick on October 13. It served to validate the $71 horizontal area as support.
What is AAVE?
AAVE is the coin of the Aave platform, which is around $82.08 at the time of writing, with a low of $45.98. It reached a high of $454.27, and its current ranking is #44, according to CoinMarketCap, with a market cap of 1.3 billion dollars.
AAVE Price Prediction
On the 1D timeframe, the price action of $AAVE/USDT has broken the resistance trendline and bounced nicely. If it breaks the horizontal resistance zone, then further, we will see well gain in it.
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Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.