AAVE Coin Prediction, Can It Rise to What Price?

Bittime - AAVE, formerly known as ETHLend, is one of the largest DeFi protocols in the world. This protocol is known as one of the largest lending platforms with a TVL (Total Value Locked) reaching $11.5 billion. 

However, despite having strong fundamentals, the price of AAVE has still not shown any significant upside in the current crypto market cycle.

Getting to know AAVE and Its Advantages

As one of the leading lending protocols, AAVE has a huge TVL of around $11.5 billion. This makes it one of the DeFi platforms with the highest liquidity. 

Lending protocols like AAVE rely heavily on the size of the TVL because it shows how much value is locked in the platform. With a large TVL, AAVE remains the top choice for DeFi users to borrow and lend crypto assets.

AAVE Price : Potential for Ascending Revival

From a technical perspective, AAVE shows an interesting formation, namely *ascending revival*. This is a pattern where the price starts to saturate down and then enters a time-based capitulation phase, where the price does not move significantly for a long time. 

However, what is interesting is the bullish divergence on the AAVE monthly chart, where the price shows a downtrend while technical oscillators such as the RSI are starting to show an increase.

If AAVE manages to break through resistance around $100 to $150, there is potential for a significant price increase. However, whether AAVE can reach its previous high of around $650 remains a question mark, especially with the changing narrative of the crypto market continuing to evolve.

AAVE Price prediction: Bullish Outlook

AAVE has shown a positive trend in recent times. The cryptocurrency's performance over the past month, marked by positive closes on 53% of days, underscores the ongoing bullish trend. 

Even though price volatility is at a moderate level of 12.71%, the price increase of 3.13% in the last 24 hours shows increasing upward momentum.

Technical indicators also paint a promising picture. The 200-day Simple Moving Average (SMA) indicates a potential uptrend for AAVE in the coming month, targeting a value of $104.96. 

The short-term 50-day SMA is in line with this bullish sentiment, targeting $96.35 on August 20. Additionally, the Relative Strength Index (RSI) is currently at 56.79, indicating Neutral market sentiment, which can be interpreted as a balanced condition before a potential upward movement.

AAVE Price Today

Based on today's Bittime market, the AAVE IDR price is IDR 1,954,348 with an increase percentage of +10.64%

Conclusion

AAVE, with its strong fundamental base and interesting technical potential, remains one of the altcoins to watch. Even though it has not shown a significant increase in the current market cycle, there are indications that the AAVE price could experience a recovery if it manages to break through an important resistance level. 

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.