$Aave (AAVE) is a decentralized lending (DeFi) protocol on the Ethereum platform, allowing users to borrow and lend digital assets without intermediaries. $AAVE is the native token of this protocol, used to participate in governance and enjoy other benefits.

Technical Analysis:

Current Price: $315.10, down 3.38% from the previous session.

Daily Movement: The highest price reached $348.88 and the lowest price was $299.81.

Moving Average (MA): On the 4-hour time frame, $AAVE is trending up with the 50-day MA sloping up. The 200-day MA is also sloping up since 26/07/2024, indicating a strong trend.

Relative Strength Index (RSI): Currently in the neutral zone of 30-70, indicating that the price is trending neutral and may remain so for a while.

Price Prediction:

Short-term prediction: According to technical analysis, $$AAVE ay continue its short-term uptrend, with support at the 50-day MA and resistance at the recent high.

Long-term prediction: Some predictions suggest that AAVE may reach $141.77 by 2030, up about 5% from the current price.

Note:

Risks: The rapid increase in cbBTC on Aave may lead to liquidity risks, especially if there is a sudden withdrawal of a major USDC provider.

Market volatility: The cryptocurrency market is very volatile; prices can change rapidly.

Before investing, you should do thorough research and consider the risks carefully.
#Mr_Pips