Crypto analyst Aaryamann Shrivastava predicts a 33% rally for AAVE following Grayscale’s latest move, while analyst Tiago Amaral expects a 21% rise for OP. Here are the predictions for these two altcoins.
AAVE Price Forecast: Struggling with Resistance$AAVE
AAVE price recently attempted to break above the $167 resistance level but quickly corrected sharply. However, recent developments such as the launch of Grayscale’s AAVE Trust have created an optimistic atmosphere for the token’s future price action. The renewed bullish sentiment has the potential to trigger a significant rally for AAVE.
Currently, AAVE is trading at $150, up 8%. The altcoin is targeting the critical resistance level of $153 before reaching $167. This resistance has not been breached before, but current market conditions could point to a breach in the coming days. If AAVE breaks the $167 support, the next target would be $180. From there, a 33% increase to $200 is possible, which would see the altcoin reach its highest level in 18 months. However, if it fails to break $153, AAVE could fall below the local support of $126 or even to $116. This would invalidate the bullish view and delay potential gains for bullish traders.
Optimism (OP) Price Forecast$OP
This year, the OP price has been under pressure, reflecting the challenges faced by its scaling solution. Fundamental indicators are showing significant shifts in market sentiment, raising concerns about future price trends. While recent metrics are bearish, there are still opportunities for potential gains. Investors are watching closely for signs of a possible reversal as OP approaches critical support and resistance levels.
OP’s Exponential Moving Average (EMA) lines are currently forming a “death cross,” which is when a short-term EMA crosses below a long-term EMA, creating a bearish signal. This could indicate a strong downtrend ahead. EMA lines become sensitive to current market movements, giving more weight to recent price data. If the downtrend continues, the altcoin’s price is likely to test critical support zones at $1.41 and $1.29. If the downtrend continues, the price could fall to $1.06, representing a 30% loss from current levels. A break below these support levels could signal further weakness, and will therefore be a critical watch point for traders.
On the other hand, if a bull trend forms and the "death cross" turns out to be a false signal, the current price can be considered a strong buying opportunity. If the OP bounces back, it can test resistance at $1.63 and if it breaks this level, it can reach $1.81, potentially carrying a 21% increase.