Aave Surge Alert: 16.9% Rally Ahead in 5 Days

• AAVE is confronting severe anxiety in the market, but nevertheless, it emits a faint ray of hope.
• Main parameters continue to be pessimistic albeit the forecast suggesting a slight upturn in the near future.
• Price fluctuations dominate the market, and Aave is right in the eye of the storm.

In a sluggish manner, the market today resembled an exhausted animal, continuing to heavily fear around. AAVE was one of the victims of the situation. The value of the token was $163.95 and it went down by 8.96% only in one day, way underneath the level of confidence it used to have.

Furthermore, it couldn’t keep up with Bitcoin either, losing 1.57% in comparison to the largest coin. The entire crypto market went through the same thing, with total value of the market dropping 10.03%, and Aave was a part of it.

Yet, a tiny ray of light was still shining through the darkness. AAVE’s price could potentially increase by 16.91% in the next five days, with a target of $196.66 by December 6, 2025, according to the most recent forecast. It is a feeble hope. But even the hardest of times bring forth hope.

Source: CoinCodex

Also Read: AAVE Whale Momentum Points to an Emerging Trend Reversal Opportunity

AAVE Price Action and the Road Behind

The last month was a tough one for Aave. The cryptocurrency price dropped by 26.43% during this period, going through a slow and steady slide. The medium-term trend was even worse with AAVE losing a whopping 47.66% in just three months. It cratered by 20.28% in the past year, nowhere near the $205.65 level at which it was one year ago.

Aave had a period of greatness. It reached its peak value of $664.97 in May 2021. At present, the peak price within the cycle is $398.10, while the bottom price is $45.88. The digital currency does not lose its character of being very volatile, 10.01% over a month, and it also had 13 days of price increases among 30. It is green, but still not enough.

Source: CoinCodex

The market’s tone is frigid these days. Fear & Greed Index a.k.a. the market’s thermometer shows a very low score of 24, which means there is a lot of fear around. Just like the moon, the market has its two sides, one is scared and the other is greedy. To be more precise, 40% of the market participants are dying to get out, 60% have managed to get out already. But still, fear is a rare bet in the market, and fear sometimes brings opportunity.

AAVE Technical Picture and What Comes Next

The majority of the indicators show a red signal on the chart. 27 indicators indicate a bearish trend while only 5 present a bullish one. Support is at levels of $174.27, $170.66, and $163.44. Resistance is formed at $185.11, $192.33, and $195.95. AAVE has crossed above both the SMA 50 and SMA 200, this being an exceptional positive signal in an otherwise gloomy situation.

Source: CoinCodex

At 44.14, RSI puts on a facade of neutrality, which means the market, as of now, is at a stage where it’s neither tired nor eager; instead, it seems to just be waiting.

Source: CoinCodex

Although the charts are suggesting a very brief rally, AAVE’s future is still not bright. The token needs to increase its value by 16.91% to reach its price target. Nothing is for sure in these kinds of markets. But then again, certainty is a luxury traders never really had.

Also Read: Aave Surge Predicted: 16% Rise Rally Ahead