{"id":1182,"date":"2021-08-18T00:46:38","date_gmt":"2021-08-18T04:46:38","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=1182"},"modified":"2021-08-18T00:48:40","modified_gmt":"2021-08-18T04:48:40","slug":"aave-price-analysis-will-aave-overcome-450-usd","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/aave-price-analysis-will-aave-overcome-450-usd","title":{"rendered":"AAVE Price Analysis: Will AAVE Overcome $450 Re-Injecting Momentum For Optimistic Bulls?"},"content":{"rendered":"\n
\"Aave
Aave Price Analysis For August<\/figcaption><\/figure>\n\n\n\n

The AAVE token is, among other DeFi governance coins defying gravity.<\/p>\n\n\n\n

It could be due to the rise of DeFi TVL, also driven by the expanding Ethereum prices.<\/p>\n\n\n\n

However, regardless of the interconnections, the path of least resistance for AAVE is northwards\u2014and the token’s bulls are undoubtedly upbeat.<\/p>\n\n\n\n

AAVE Market Overview<\/h2>\n\n\n\n

From the daily chart, AAVE prices are stable on the last trading day<\/a>.<\/p>\n\n\n\n

The token is up 17 percent in the last week of trading, outperforming ETH<\/a> and BTC<\/a>.<\/p>\n\n\n\n

Overly, trading volumes are decent, buoying buyers who, in turn, are keeping the uptrend firm, a net positive for AAVE traders across the board.<\/p>\n\n\n\n

Zooming in to price action, AAVE buyers are resilient.<\/p>\n\n\n\n

The last week of trading has resulted in gains even though the upswing is labored. It is a mix of green and red, with AAVE closing the week in red, reading from the daily chart.<\/p>\n\n\n\n

In all, AAVE prices are in a bullish breakout pattern firmly above July 2021 highs.<\/p>\n\n\n\n

Also, amid the uptrend, AAVE bulls consistently band along the upper BB, suggesting underlying momentum keeping bulls alive.<\/p>\n\n\n\n

Another marker of strength could be the positively inclined middle BB.<\/p>\n\n\n\n

The 20-day moving average is positively inclined, changing trajectory highlighting the shift in strength once AAVE prices began bottoming up.<\/p>\n\n\n\n

Technically, it would be ideal if the middle BB continues to offer support. At the same time, bulls confirm the bullish breakout pattern above July 2021 highs at $300.<\/p>\n\n\n\n

A retracement below $350 would cancel the uptrend. In this case, this will pave the road for a retracement as per the layout of AAVE candlesticks.<\/p>\n\n\n\n

AAVE Market Overview<\/h2>\n\n\n\n

Data from Defi Pulse indicates that AAVE locks the most. It has a TVL of $12.7 billion, $2 billion more than the nearest competing protocol, InstaDapp.<\/p>\n\n\n\n

AAVE is a lending and borrowing protocol whose code has been audited by two blockchain security firms. At the same time, it maintains a bug bounty program.<\/p>\n\n\n\n

Responding to high Gas fees in Ethereum, AAVE’s services are also accessible in the Ethereum-compatible Polygon. Through the latter, borrowing and lending costs are near-free, a net positive which significantly boost user experience.<\/p>\n\n\n\n

In late July 2021, the collateral swap feature was launched on Polygon:<\/p>\n\n\n\n

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The collateral swap feature available on mainnet has now been rolled out on the @0xPolygon<\/a> market. Swap from one deposited asset to another in a single and convenient transaction \ud83d\udc7b<\/p>— Aave Labs (@aave) July 28, 2021<\/a><\/blockquote>