Aave is a decentralized finance protocol that allows people to lend and borrow crypto. Lenders earn interest by depositing digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this liquidity.

Aave has several unique selling points when compared with competitors in an increasingly crowded market. During the DeFi craze in the summer of 2020, it was one of the biggest projects in terms of the total value of crypto locked in its protocol.

Let us <a href="https://www.cryptoknowmics.com/news/aave-and-uniswap-uni-technical-analysis-a-relief-bounce-for-bulls/">look</a> at the technical analysis of AAVE.
<h2><b>Past Performance of AAVE</b></h2>
The coin is trading at $196, which has come down from an all-time high of $611 in May 2021. In the last week, AAVE price traded in the range of $157.98 and $201.63. The price has certainly moved in the green since December 13, 2021, when it fell 10%. The new voting on the code licensing has helped it gain this traction.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/4/4hvFKerl.png" alt="TradingView Chart" />

Source: <a href="https://www.tradingview.com/x/4hvFKerl/">https://www.tradingview.com/x/4hvFKerl/</a>
<h2><b>AAVE Technical Analysis</b></h2>
The <b>On-balance Volume</b> is at 10.49 million, showing the rise in the direction and increasing volumes in line with the price rise.

<b>RSI</b> is at 40% and inching its way upwards slightly. One can see the current bullish trend gaining traction. It seems to have gained strength towards this trend, which will stay for a while.

<strong>The MACD indicator shows </strong>the fast line crossover the slow line and the change in trend towards a bullish phase being confirmed.
<h2><b>Price Trends for the Day-Ahead and Tomorrow</b></h2>
The monthly technical indicators and moving averages for the cryptocurrency suggest 10 sells and 6 buy recommendations for AAVE. Weekly technical indicators and moving averages suggest 19 sell signals and just one buy signal. Watch for a resistance level of $215.5, $261.8, and $308.1, respectively.

AAVE Technical Analysis: Fall in Price Since Mid-Year, Will Pick Up Owing to Voting on Licensing

The monthly technical indicators and moving averages for the cryptocurrency suggest 10 sells and 6 buy recommendations for AAVE. Weekly technical indicators and moving averages suggest 19 sell signals and just one buy signal. Watch for a resistance level of $215.5, $261.8 and $308.1. 

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

AAVE Technical Analysis: Fall in Price Since Mid-Year, Will Pick Up Owing to Voting on Licensing

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