Kyber Network and AAVE prices are inching higher. At spot prices, KNC/USDT and AAVE/USDT setups could reach $5 and $580, respectively. AAVE The Aave protocol is one of the leading DeFi lending and borrowing platform, supporting a range of tokens. The AAVE token primes its system. Past Performance The token is firmly in green territory as it glides. Trading at $584 as of writing, the price is up roughly 17 percent against USD and BTC. At the same time, AAVE is gaining versus a solid ETH, adding 11 percent on the last trading day. Meanwhile, there is interest from the broader trading community. Adding 79 percent, the average trading volumes of AAVE are up $986 million. Day-Ahead and What to Expect AAVE technical analysis indicates demand. In return, AAVE/USDT is trading within a bullish breakout pattern above March and April 2021 highs of $450. From the daily chart, AAVE/USDT price action found support at the 50 percent Fibonacci retracement level of the Q1 2021 trade range at $300. The reversal of early May 2021 losses is a shot in the arm for buyers angling for more price gains towards $580. AAVE/USDT Technical Analysis AAVE buyers are in a commanding position judging from the candlestick arrangement in the daily chart. Every low could technically be a loading opportunity as long as prices are above March and April 2021 highs. The first feasible target is $580—the Q1 2021 high. Kyber Network (KNC) Kyber Network is an on-chain liquidity protocol that aggregates liquidity from various sources for seamless and smooth swapping of tokens. These services are built around the KNC token. Past Performance of KNC Overly, KNC buyers have a chance. However, prices are in range mode, bouncing within a $1.6 zone defined by $2.2 and $3.8. This trading zone is within April 2021 trade range. Despite the confidence, participation has tapered as trading volumes contracted 24 percent to $151 million. Day-Ahead and What to Expect The KNC/USDT technical analysis of candlestick arrangement in the daily chart points to buyers. Although prices are in consolidation, key reaction levels lie at $3 and $3.8. A breakout in either direction may see KNC/USDT soar or rewind gains. KNC/USDT Technical Analysis Aforementioned, Kyber Network buyers stand a chance. A close above $3.8 would likely see KNC/USDT soar to $5—the 1.618 Fibonacci extension level of the Q1 2021 trade range. On the flip side, losses below $3 and last week’s low may see KNC prices dump down to $2.2—April 2021 lows.
The post AAVE and Kyber Network (KNC) Technical Analysis: What to Expect? appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
