- The AAVE crypto supply inflation is medium, resulting in 2.67%.
- The Total Value Locked for the crypto has advanced over the last 24 hours.
The top 10 holders of the AAVE crypto hold 55.2% of the total crypto supply, and it has a total of 168K active addresses. Additionally, 62.27% of the crypto supply is held by whales, and others have 37.73% of the supply.
The crypto has good liquidity as its volume/market cap ratio is 6.55%, followed by a market cap value of $1.416B. The crypto market cap further has been trading flat over the last 24 hours with a slight advance of 0.8%.
The market cap ranking of the AAVE is #60 as per CoinMarketCap in the global cryptocurrency market. The crypto price data further shows that there has been no significant change in the price of the crypto over the last 24 hours from the press time.
The Total Value Locked for the crypto is worth $12.366B, which has been rising further over the last few days. Also, 18.54% of the crypto market cap is staked, and the recorded annualized fee for the crypto is $418.46M.
The active loans for the crypto have also advanced by 10.3% in the last 30 days, resulting in a current value of $7.84B at press time.
AAVE Crypto Derivatives Data Analysis
The long/short ratio recorded for the AAVE over the last 24 hours is 0.9689, which has resulted in a higher short liquidation.
The open interest in crypto has declined to certain lows over time but is again trying to rebound from the lower levels. This shows the probability of a further surge in the volume of crypto derivatives.
The value of the derivatives traded volume for the AAVE crypto witnessed a decline of 30% in the last 24 hours, which shows a decline in trading activity in the crypto over the shorter term.
Despite the decline in volume, the open interest has advanced by 6%, which shows that there has been an advance in the number of open positions carried for crypto.
AAVE Crypto Technical Analysis
A prior descending triangle pattern breakout in the AAVE crypto led to a surge of 70% in the trading price, and again, another similar pattern is formed on the daily crypto chart.
The crypto price has been taking support at a horizontal demand zone, followed by the resistance and price rejection from a dynamic trendline on the higher side.
The following behavior of the AAVE crypto has led to a descending triangle pattern on the daily chart.
The most recent price action of the AAVE further shows consistent advances in crypto prices for the last 5 days. Also, the crypto price at press time is trading at a breakout level. If the crypto price continues to advance, it will lead to a breakout.
The breakout in the crypto price might further attract more buyers and investors, which would help the crypto price advance to higher levels in the upcoming days.
AAVE/USD Chart by TradingView
The EMAs on the daily crypto chart are trading in a death cross while the price of the AAVE crypto has broken above the significant EMAs, and only the 200-day EMA level is left to be taken out.
If the crypto price breaks above the 200-day EMA in the coming days and closes above the same, we might see a change in the crypto trend to bullish.
The MACD metrics further are advancing from the lower levels and have formed a golden cross. The histograms formed on the chart further support a bullish momentum.
The RSI has also advanced above the 50-level and has given closing above the same. This shows a rise in the positive momentum of the crypto price.
AAVE Poised to Breakout with Strong Support and Bullish Indicators
AAVE crypto is poised for a breakout, with recent price advances and a strong support level.
Key indicators suggest upward momentum, including a potential breakout from the descending triangle pattern and bullish RSI and MACD signals. A break above the 200-day EMA could further solidify a bullish trend.
The support levels for the AAVE crypto are $61.0 and $77.0, followed by the resistance levels of $115.0 and $153.00.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Read More: AAVE Crypto Price At The Verge Of Breaking Above Crucial Levels
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