As the crypto market continues to struggle despite the bullish sentiment returns, crypto analysts highlight the key points for buying the popular altcoin, Aave. A few believe that this particular crypto token will offer tremendous gains. Let’s discuss experts’ analysis and their key levels.
Experts believe Aave Price Chart is Ready for Massive Rally
Aave, often regarded as one of the top altcoins to buy, is due for a full recovery, as the ATH sits 56% away from the current level. However, the crypto analyst Michaël van de Poppe’s prediction states that an opportunity is building after the consolidation, which will unlock tremendous gains. He states, “
“After this correction, old coins like AAVE have a tremendous opportunity.”
Michael’s prediction hints at the rising investor interest in the token, as trading volume surpassed the $600M mark, which wishes to buy utility-based tokens. Another analyst also pointed at the correction, claiming he would buy the altcoin once the resistance at $297 clears. Overall, the analysts see an opportunity for a massive rally forming for the new ATH.
Key Levels To Watch
According to Michaël, the token is experiencing a massive consolidation after hitting a new ATH at $355. It is currently trading at $296 with $4.3B in market capitalization. Interestingly, a supporting window formed between $240 and $250, which previously showed resistance but has not turned into a support zone. If the price correction drops to this level, experts state it will be the perfect zone for accumulation (buying).
The weekly charts also show a strong support zone forming between $113 and $115. At this point, traders had previously stepped in to accumulate, and new buyers could do the same. However, investors should cautiously analyze the RSI near these support zones to stay prepared for random trend reversals.
Support Zone
$240-$250
Historical Lows & Long-Term Support
$113-$115
Resistance
$297 (this level needs to be cleared for significant upward move)
What’s In There For You?
Aave is a popular cryptocurrency in the market, carrying strong fundamental and community support. Two prominent crypto analysts have pointed out the tremendous gain and profit-earning opportunities as the altcoins faced massive corrections with Bitcoin price struggles. However, despite that, analyst Michaël claims the zone between $240-$250 is perfect for accumulation if consolation continues. Moreover, once the resistance zone clears at $297, the price could follow an uptrend, hitting a new ATH in the long term.
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