AAVE is a growing decentralized blockchain network that allows users to earn interest on crypto deposits and borrow funds through smart contracts. Interest is compounded on a daily basis on coin deposits. The AAVE protocol offers flash loans as well. The token is the customized cryptocoin of this blockchain. Past Trends in AAVE As of March 4, 2021, AAVE started trading at $396.02. As of March 10, 2021, AAVE closed at $406.85. In the past week, the AAVE price has soared by approximately 3%. In the last 24 hours, the coin has been trading between $399.04 – $438.43. https://ift.tt/2OFgpgk Day-Ahead and Tomorrow Currently, AAVE is trading at $407.23. The price has risen from the opening price of $406.25. Thus, the market looks healthy. The A/D indicator is rising. In the past 24 hours, whale accumulations have been continually higher than whale distributions. Thus, the AAVE price is likely to rise further. At present, the RSI indicator is at 51%. It faced a bullish swing rejection at 42% and rose to the current level. An hour back, it was continually facing rejection at 62%. Thus, there is a tussle between buying and selling pressures. As the overall market is positive, we can expect intermittent price pullbacks amidst a rising price trend. The MACD and signal lines are positive. A bearish crossover by the MACD line over the signal line indicates a brief price dip. Thus, market price corrections are happening. The price may drop for a while before rising again. AAVE Price Analysis Currently, the price is below the Fibonacci pivot point of $414.77. It may fall up to the first Fibonacci pivot support level of $399.73 before resuming its upward journey. The price is inching closer to the 76.4% FIB retracement level of $408.34. If the price falls below the 138.2% FIB retracement level of $383.99, then probably a bearish trend has set in. In that case, we can expect the downtrend to continue tomorrow as well.
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