AAVE Price Down: Time To Buy On The Cheap Before The Big Rise?

• AAVE Price Suffers A 20% drop in Tuesday’s flash crypto crash and has hardly recovered since.
• A good opportunity to buy AAVE at a relatively cheap price before it starts its upward trajectory again.
• Crypto market appears slightly more bullish before the weekend with AAVE timed for a reversal of fortunes

After having climbed slowly but surely to the $420 mark on September 6, the AAVE price (like the vast majority of cryptos) experienced a considerable double digit fall in the September 7 flash crash. Variations in price are not new to AAVE however as it had even reached the $427 level on August 13 only to drop again over the next two weeks as it struggled to find upside.

However, with the AAVE price currently at $332, this is still a considerable 50% increase from the July swing low of $221. It had actually reached the 90% rise level on August 13 confirming that the ascending triangle was still going strong. It seems that the current price level f $332 is an excellent opportunity for investors to come in as a 20% increase would book considerable profits.

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Short Term Prediction For AAVE Price: A Period Of Consolidation?

After suffering a considerable 20% drop, the AAVE price appears to be in a period of consolidation before beginning its next move upwards. The price movement has been somewhat ambiguous over August with several rises and drops but overall, an increase was experienced before the September 7 drop.

If a bullish thesis were to take hold, then the AAVE price would probably rise by around 8% to the $360 level where it would once again encounter resistance. If this is broken, then the $390 mark could be a possibility but probably another small pullback would be experienced before AAVE would resume its upward trend.

If a bearish thesis were to continue, then we could expect the AAVE price to sink around 8% to the critically important $300 mark. There is very strong support there so another drop would be unlikely. However, a protracted sell off across the whole market could cause another flash crash in the AAVE price.

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Long Term Prediction For AAVE: Bullish Momentum Still A Possibility But Pitfalls Remain

Although the AAVE price has experienced quite a strong setback over the past days, the long-term predictions for the DeFi coin remain bullish. While it will be tough to reach the $800 ATH before the end of the year, the $600 level is not a fantastic prediction either.

Much depends on the continued behaviour of the broader cryptocurrency market. With DeFi having made huge strides this year, it would only be logical to assume that AAVE will continue rising over a long-term period.

Where to Buy AAVE

If you want to purchase AAVE, you can do so on the following exchanges:
• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
• Binance
The other platform where you can buy AAVE is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

Looking to buy or trade AAVE now? Invest at eToro!

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