Survive

Million

Resistance

Billion

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>The developers’ activity has declined since January 24th, 2024, which shows that its activity count has declined sharply.</a></li>
 <li><span>2</span> <a>The AAVE asset appears strongly bearish as it headed downwards after breaching the above dynamic supports of 20-day and 50-day EMAs.</a></li>
</ul>
<p>The&nbsp; AAVE crypto price was in the bull court from September 2023 and skyrocketed from $50.0 to $154 by March 13th, 2024. It performed well in the last six months, as its gains of six months performance stayed at 52.21%, but last week and month, it declined by 14.36% and 31.79%, respectively, implying a robust downtrend.</p>
<p>However, the AAVE crypto has revealed a massive slump in price in the last couple of sessions, and the price shows struggling signs of bulls, and bearish dominance is exceptionally high. Contingent on seller pressure, the massive drop could shatter more support and could target $85 and $80 support on the daily chart.</p>
<p>The AAVE asset appears strongly bearish as it headed downwards after breaching the dynamic supports of 20-day and 50-day EMAs from above, and this shows that depending on the seller’s surge, it has a massive room to fall.</p>
<p>Furthermore, the AAVE crypto asset could accelerate this ongoing bearish trend if the price slips more of its ground support, and coincidingly, the MACD has started to decline abruptly from the zero line, which is at -2.90 and has cut the signal line sharply from above.</p>
<p>Meanwhile, the RSI moved lower after beating the 14-SMA from above like a falling knife, and a push from the bear side could accelerate more deterioration.</p>
<h2 class="wp-block-heading" id="strong-aave-price-forecast-strong"><strong>AAVE Price Forecast</strong></h2>
<p>At the time of publishing, the AAVE crypto is at $97.68 and shows an intraday decline of 2.40%.</p>
<p>Therefore, if the AAVE crypto fails to maintain the $85.0 price level, the price could show a spectacular drop. However, if the price shows a resurgence, it could break out upside and reach $110.0 and $120.0 levels.</p> 
<p><a href="https://in.tradingview.com/chart/AAVEUSD/g07EZvmz-The-AAVE-asset-appears-strongly-bearish/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<h2 class="wp-block-heading" id="strong-aave-daily-active-addresses-activity-analysis-strong"><strong>AAVE Daily Active Addresses Activity Analysis</strong></h2>
<p>The number of active addresses in AAVE represents the actual number of users who have performed transactions in a given period. A higher number of transactions indicates more liquidity and is preferable for investors, and a lower number reflects less liquidity.&nbsp;</p>
<p>The above AAVE chart shows that the number of 24-hour active addresses saw fluctuations between December 2023 and April 2024. The number of active addresses dropped, and the number of 24-hour active addresses was 752 active addresses, which were 1100 in March beginning 2024.&nbsp;</p> <iframe loading="lazy" title="Santiment Chart: Daily Active Addresses (AAVE), Price (AAVE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=aave&amp;pt=AAVE&amp;df=2024-01-06T00%3A00%3A00.000Z&amp;dt=2024-04-11T18%3A29%3A59.967Z&amp;sat=shchcfg_4U02npMfU60t&amp;emcg=1&amp;emhwm=1&amp;wm=daily_active_addresses%3Bprice_usd&amp;wax=0%3B1&amp;wc=%23FFAD4D%3B%2326C953&amp;ws=%3B" scrolling="no"></iframe>
<h2 class="wp-block-heading" id="strong-aave-development-activity-evaluation-strong"><strong>AAVE Development Activity Evaluation</strong></h2>
<p>Furthermore, the development activity reflects the activity level in the form of undergoing projects and developments in AAVE crypto. The developer’s activity has been on the decline since January 24th, 2024, which shows that its activity count has declined at a sharp rate.</p> <iframe loading="lazy" title="Santiment Chart: Dev. Activity Contributors Count (AAVE), Development Activity (AAVE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=aave&amp;pt=AAVE&amp;df=2024-01-06T00%3A00%3A00.000Z&amp;dt=2024-04-11T18%3A29%3A59.967Z&amp;sat=shchcfg_4U02npMfU60t&amp;emcg=1&amp;emhwm=1&amp;wm=dev_activity_contributors_count%3Bdev_activity&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%238358FF&amp;ws=%3B%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%7D" scrolling="no"></iframe>
<h2 class="wp-block-heading" id="strong-evaluation-of-aave-volume-with-respect-to-the-price-strong"><strong>Evaluation of AAVE Volume With Respect to the Price</strong></h2>
<p>After examining the chart closely, it can be observed that the volume was exceptionally high on March 19th, 2024. It indicates an increase in interest and activity in the AAVE token market, which has, in turn, caused the <a href="https://www.thecoinrepublic.com/2024/04/10/kin-price-prediction-kin-witnesses-consolidation-whats-next/" target="_blank" rel="noopener noreferrer nofollow">price </a>to rise. It is worth noting that the volume was previously above $3.3 Billion.</p>
<p>However, from March 20th, 2024, volume continued to fall, and a significant descent in AAVE activity was observed, which illustrated decreased demand and excitement about AAVE price. The trading volume depleted from $3.3 Billion to the low of $400 Million by April’s second week on the chart.</p> <iframe loading="lazy" title="Santiment Chart: Price (AAVE), Volume (AAVE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=aave&amp;pt=AAVE&amp;df=2024-01-06T00%3A00%3A00.000Z&amp;dt=2024-04-11T18%3A29%3A59.967Z&amp;sat=shchcfg_4U02npMfU60t&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%3B" scrolling="no"></iframe>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>AAVE price surged from $50.0 to $154 in six months but recently declined by -14.36% weekly and -31.79% monthly. Sellers pushing for a drop could target $85 and $80 support levels. MACD is declining sharply, and RSI is falling. If the price fails to reach $85, it could drop significantly. Otherwise, it could reach $110 or $120.</p>
<p>The number of active addresses in AAVE reflects user transactions, with higher activity indicating more liquidity and investor preference. Fluctuations were seen from December 2023 to April 2024, along with declining developer activity and changes in trading volume.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels</strong>: $85.0</p>
<p><strong>Resistance Levels</strong>: $110.0</p>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

AAVE Crypto is Falling Fast; Can It Survive the Dip & Surge Soon?

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Thecoinrepublic.com

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