Aave Price Prediction 2022 – Will AAVE Hit $500 Soon?

Aave Price Prediction — Will AAVE Hit $500 Soon?
  • Bullish AAVE price prediction is $172 to $420.3.
  • The AAVE price might also reach $500.
  • AAVE bearish market price prediction for 2022 is $111.2.

In Aave’s (AAVE) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about AAVE to analyze the future movement of the cryptocurrency. 

Aave Current Market Status

According to CoinGecko, the price of AAVE is $162.73 with a 24-hour trading volume of $118,470,074 at the time of writing. However, AAVE has decreased nearly 1.9% in the last 24 hours.

Moreover, AAVE has a circulating supply of 13,656,315 AAVE. Currently, AAVE trades in cryptocurrency exchanges such as Binance, OKX, CoinFLEX, Upbit, and CoinTiger.

What is Aave (AAVE)?

Aave is a decentralized financial protocol that enables people to lend and borrow cryptocurrencies. In addition, lenders earn interest by placing crypto assets in a specially designed liquidity pool. More so, borrowers can use their cryptocurrency as collateral to obtain fast loans through this liquidity.

Aave was originally called ETHLend when it launched in November 2017, but was renamed Aave in September 2018. In addition, AAVE offers discounts to holders on the platform. It also serves as a governance token providing owners a say in the future development of the protocol.

Aave (AAVE) Price Prediction 2022

Aave holds the 61st position on CoinGecko right now. AAVE price prediction 2022 is explained below with a daily time frame.

AAVE/USDT Descending Channel Trend Pattern (Source: Tradingview)

A Descending Channel pattern is a short-time bearish pattern in which stock moves lower within a trend, but they often form longer-term uptrends as continuation patterns. It is often followed by higher prices, but this happens only after an upside penetration of the upper trend line.  

A descending channel pattern is drawn by lower highs and lower lows of a security’s price with parallel trendlines to show the downward trend. Within a descending channel pattern, a trader could make a selling bet when the security price reaches the resistance trendline. 

Currently, AAVE is in the range of $162.73. If the pattern continues, the price of AAVE might reach the resistance level of $351.1. If the trend reverses, then the price of AAVE may fall to $111.2.

Aave (AAVE) Support and Resistance Level

The below chart shows the support and resistance level of AAVE.

AAVE/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of AAVE.

  • Resistance Level 1 – $173.3
  • Resistance Level 2 – $256.7
  • Resistance Level 3 – $420.3
  • Resistance Level 4 – $668.3
  • Support Level – $113.6

The charts show that AAVE has performed a bullish trend over the past month. If this trend continues, AAVE might run along with the bulls overtaking its resistance level at $668.3.

Accordingly, if the investors turn against the crypto, the price of the AAVE might plummet to almost $113.6, a bearish signal.

Aave Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of AAVE is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of AAVE lies below the cutoff line, indicating weaker participants in the current trend.

AAVE/USDT RVOL, MA, RSI (Source: TradingView)

More so, the AAVE’s Moving Average (MA) is shown in the chart above. Currently, AAVE is in a bullish state. Notably, the AAVE price lies above 50 MA (short-term), so it is completely in an upward trend. Therefore, there is a possibility of a reversal trend of AAVE at any time.

Meanwhile, the relative strength index (RSI) of the AAVE is at level 63.42. This means that AAVE is in a nearly overbought state. However, this means a major price reversal of AAVE may occur in the upcoming days. So, traders need to trade carefully. 

Aave Price Prediction 2022 — ADX, RVI

Let us now look at Aave’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

AAVE/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Aaves. Currently, AAVE lies in the range of 25.4, so it indicates a strong trend. 

From the above chart, the Relative Volatility Index (RVI) of AAVE. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of AAVE lies above the 50 levels, indicating that the direction of volatility is high. In fact, AAVE’s RSI is at 63.42 level thus confirming a potential buy signal.

Comparison of AAVE with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Aave.

BTC Vs ETH Vs AAVE Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC and AAVE is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and AAVE also increases or decreases respectively.

Conclusion

With continuous improvements in the Aave network, we can say that 2022 is a good year for AAVE. For this reason, the bullish price prediction of Aave in 2022 is $420.3. On the other hand,  the bearish AAVE price prediction for 2022 is $111.2.

Furthermore, with the advancements and upgrades on the AAVE ecosystem, the performance of AAVE would help to reach above its current all-time high (ATH) $351.1 very soon. But, it might also reach $500 if the investors believe that AAVE is a good investment in 2022.

FAQ

1. What is Aave?

Aave is an open source and non-security protocol to receive interest on deposits and to borrow property.

2. Where can you purchase AAVE?

AAVE has listed on many crypto exchanges which include Binance, OKX, CoinFLEX, Upbit, and CoinTiger.

3. Will AAVE reach a new ATH soon?

With the ongoing developments and upgrades within the AAVE platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Aave?

On May 18, 2021, AAVE reached its new all-time high (ATH) of  $661.69 .

5. Is AAVE a good investment in 2022?

Aave (AAVE) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of AAVE in the past few months, AAVE is considered a good investment in 2022.

6. Can Aave (AAVE) reach $500?

Aave (AAVE) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Aave (AAVE) will hit $500 soon.

7. What will be the AAVE price by 2023?

Aave (AAVE) price is expected to reach $560 by 2023.

8. What will be the AAVE price by 2024?

Aave (AAVE) price is expected to reach $630 by 2024.

9. What will be the AAVE price by 2025?

Aave (AAVE) price is expected to reach $700 by 2025.

10. What will be the AAVE price by 2026?

Aave (AAVE) price is expected to reach $750 by 2026.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.