From the past day’s crypto market doldrum, Aave (AAVE) slightly soared to a current high of $73.9. AAVE hit a low of $64.7 in the past day. The coin climbed up from the past low value to the current high by 14.7%.
Importantly, on October 12, data from the social intelligence platform LunarCrush showed that AAVE social engagement hit 1.89 million, which is 2.92K% above the 7-day average. Although the social activity of a crypto asset usually determines its price, AAVE did not follow the tradition, as it did not record a good surge.
At press time, AAVE clocked at $73.2, with a 5.9% surge in the past 24 hours.
AAVE/USDT- 1-Day Trading Chart (Source: TradingView)
The nearest resistance zone for the altcoin is $75.7, and it has currently broken the $73.6 support level. If AAVE keeps on moving above this support zone, investors can predict a hike above the resistance level.
While analyzing the EMA-50 range, AAVE should at least tap at $79.5 for another good rally. As clear from the graph, the coin price fluctuated on September 13, after the EMA line crossed over it. However, if the line touches the current green candle, a probability for either a hike or a dip can be expected.
Moreover, there is also a falling wedge pattern formed since August, depicting a further fall for the coin. But, if bullish investors play well in the market, AAVE could soar.
AAVE/USDT- 4-Hour Trading Chart (Source: TradingView)
Looking closer at the 4-hour chart, investors have been bullish on AAVE, since 12:00 UTC, in the past day. Crypto experts look ahead to a rally for AAVE, but the fluctuating crypto market condition will tell more about the altcoin, in the future.
In short, today, there are several important factors to happen, that vitally determine the price of AAVE and all other major coins. This includes Retail Sales Ex Autos report, Import Prices, Export Prices, Business Inventories, etc.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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Source: Cryptocurrency - investing.com
