What is Aave Coin?

Aave is a decentralized finance protocol that makes it possible for people to borrow and lend crypto. Lenders earn their interest by depositing digital assets to specially created liquidity pools. On the other hand, borrowers use their crypto collateral to take out a flash loan. Aave means Ghost and when it first originated it was known as ETHlend when it was eventually launched in November 2017 but it was renamed Aave in September 2018. In this article, we look at the Aave coin price direction and what to expect in the days to come.

Current Aave Coin price prediction

[caption id="attachment_230004" align="alignnone" width="1153"] Aave coin price Source: trading view[/caption]

Aave marked a double bottom pattern on the 2-day chart starting on 20th March. The MACD bars are short and green, hence suggesting a bullish trendline.

During press time, the price of Aave is trading slightly below the 100-day MA. This took place after the line broke below it on the 4-hour chart. 11 out of the 26 major indicators are indicating a buy signal. While 6 out of the 26 major indicators are showing a sell signal. Also, note that 9 moving averages are bullish while only 5 are bearish.

 From the look of things, the general cryptocurrency trend is following a bullish trend. 

Aave price action has seen sideways action so far in January. At the start of the month, a rally to $325, where a higher high was set, established the trading range’s upper boundary.

After a retracement and consolidation below $310 previous resistance. Another trial to move above the $325 was seen on the 8th of February. The move higher was followed by a strong retracement to $270.

Since then, the Aave price action has slowly moved back higher, setting a slightly lower high around $320

Over the past days, a retracement was seen towards $290, where a higher low will likely be set, leading AAVE/USD towards further upside later this week.

What investors think about the price prediction of Aave

According to Youtube's AJ 5 channel, the volume has gone up by a massive 200 in the last 24hours meaning more people have been investing in selling it.

https://www.youtube.com/watch?v=JwZ_EmqtoLI

From late April to early May you should expect more increases in value probably heading to 200mark by mid-may to late May.

If Aave is able to hit the 175 targets it can either break out and hit the next target which is $270. Otherwise, it will drop down in value but at the moment it is expected to break down and go beyond 250 dollars mark this year however it will depend on what happens at that time and how will the cryptocurrency market will perform overall.

Should you invest in Aave coin in 2022

Aave coin is a relatively new cryptocurrency that has seen a lot of growth in recent months. While it may be risky to invest in any cryptocurrency; the Aave coin may be a worthy investment for those looking to make some money in the crypto market. Here are a few reasons why you should consider investing in the Aave coin in 2022:

Ultimately, whether you should invest in Aave or not a depends on your own personal financial situation and investment goals. However, the reasons listed above make it a compelling option for those looking to invest in cryptocurrencies in 2022.