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Aave is one of the largest DeFi platforms
Tokens are increasing as cryptocurrencies rise in anticipation of DeFi recovery.
AAVE token violates support zone and witnesses new lows in market correction
Aave AAVE / USD is one of the cryptocurrencies that will gradually recover from recent crypto surges. Cryptocurrencies traded at a low of $ 53 at the beginning of July. The price on July 19 almost doubled to $ 102. Currently, most cryptocurrencies are low, so tokens are trading at $ 85.
Aave has gained new hope for DeFi growth. This platform is already one of the largest in the decentralized lending and borrowing sector. Aave allows users to earn passive income by betting tokens. This has the potential to attract users and drive the growth of the DeFi platform.
AAVE’s latest market-based revenue emphasizes trust in the platform and the usefulness of its tokens. However, tokens are currently facing a decline and investors need to be aware of key levels.
Source TradingView
With a short 4-hour time frame, AAVE is bearish. The MACD line was below the moving average as the tokens fell below the $ 86 support. The 14th and 21st moving averages remain above the price, providing resistance.
From a technical perspective, AAVE will continue to slide unless it regains $ 86 support. Currently, there is no bullish trigger, but crypto sentiment remains weak. We expect cryptocurrencies to fall and find support at $ 75. If the level is not maintained, AAVE’s next support zone is $ 68. Investors focused on the short term should sell now to buy cheaper.
AAVE continues to be under bearish pressure after its recent rise. Cryptocurrencies fell below $ 86 support. Tokens can find support for $ 75 or potentially $ 68.
A post-Aave fix to keep it going, below $ 86 support, first appeared in the Coin Journal.
