Aave Price In Consolidation Zone
Aave, A decentralized lending protocol involving lending, borrowing, and interest-earning on interest on crypto assets without the involvement of central authority. It allows you to take out quick cryptocurrency loans using another cryptocurrency you own. It also allows users to lend their crypto and earn interest. Recently, the AAVEs price has shattered the support level of $66 and formed support at the $62 level. The move was initiated after the price received a rejection from the $74, which triggered the drop, and increased bearish momentum caused the breakout. The price is hovering near the resistance level of $66 and trying to enter the consolidation zone again. AAVE price in the past week struggled to rise above the resistance level of $66 and started to drop, but bulls entered the market to help the price form support at $64. Source: AAVE/USDT by TradingView. After the formation of support, the price started to rise but still has not been able to close above the $66 resistance. If the price can rise above the immediate resistance, there is a higher probability for the price to retest $74 and head toward the annual highs. While on the other hand, if the price can break the recent support, the price