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As Bitcoin teeters close to the $40K level, several altcoins have been slow to start their engines. The AAVE price is no exception for after having reached the $300 level on July 26, it is down slightly to the $296 level as at 28 July. That’s a small decline of just over 2% but is also indicative that a retracement I occurring before a restart of the bullish run for AAVE.

After having reached a high of around $650 in late April/early May, the AAVE price has careened down to the $250 level and even dropped below the $200 mark at one point in June. However, it does seem that the Top 30 crypto is making a comeback of sorts and price predictions are pretty bullish – at least for the short term.

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Short Term Forecast For AAVE Price: A Charge to $350 Is Possible?

AAVE price

After having descended to the $220 level on 21 July, AAVE has been on a consistent trajectory with the price reaching the $303 level on 26 July. That is an almost 33% advance on the July 21 level or a 5-day gain of almost one third.

At present, the AAVE price is oscillating between the $295 and $305 levels or a very short trading range of around 3%. There seems to be a lack of buying interest at the $310 level although a change in market sentiment could add a different tinge to proceedings.

A bullish scenario would once again see the AAVE price break the $300 level and charge forward to the next resistance level which is around the $320 mark. That would represent a 10% gain from the current rice which could open up the possibility to make an assault on the $350 level.

Alternatively, a bearish thesis would invalidate this scenario. If this were to occur, the AAVE would slice through the $280 support level and crash to the $250 mark, a level last seen on July 20. However, this scenario seems to be unlikely as there is considerable support at the $280 level for AAVE, from which a bounce back is highly likely.

Long Term Forecast For AAVE: A good investment?

According to several commentators and analysts, the AAVE price is expected to continue climbing in the second half of the year. A realistic target would be somewhere between the $400 and $500 mark by the end of the year. However there is room for AAVE to continue growing and higher ATH’s are not to be unexpected.

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