Search ForexCrunch
  • AAVE Price Ready To Attack The $500 mark
  • Bullish Forecast for AAVE as It Breaks Out of Previous Trading Range
  • SEBA Bank Adds Support for AAVE Token to Enable Institutional DeFi Access

The AAVE price seems to have jumped out of its rather static mode and is preparing to begin tagging the $500 level. AAVE has risen by an astonishing 90% since its July 20 low of $232 and looks poised to continue rising as it breaks out of the ascending channel with considerable momentum at its heels.

AAVE has risen by at least 18% since 8 August and after a small pullback yesterday it has made an 8% gain today to sail above the $400 mark and settle at around the $420 level. Again, it seems that the passing of the Infrastructure Bill in the Senate has not had much effect on the crypto market in general with AAVE certainly no exception.

Additionally, AAVE has partnered with SEBA Bank, a FINMA licenced Swiss bank which is delving into the DeFi space. The bank will be adding support added for the AAVE token.

If you haven’t yet bought some AAVE, then take a look at this How To Buy Cryptocurrency Beginner’s Guide.

Short Term Prediction For AAVE price: Is $500 soon on the cards?

With an appreciation of at least 20% since August 4, the AAVE price is primed for future rises as it tackles the next resistance points. It is also up by around 90% since its July 20 low and with buyers’ interest strongly back, the mood seems very positive.

A bullish thesis would have the AAVE price up by around 10% to easily sail past the $450 level as it begins to tag the $500 mark. That would mean a 105% gain over the July 20 price of $228. The path would then be open to assail the next resistance levels of $475 and $500.

A bearish thesis would of course invalidate all this. If that were to pan out, the AAVE price would decline by around 8% to fall below the $400 level and a sell off could occur with the price descending to the $375 support level.
If you wish to start trading cryptocurrency, then take a look at these Top Cryptocurrency Brokers.

Long Term Forecast For AAVE Strengthened By New partnerships

The AAVE price remains bullish over a longer-term period and it could well reach the all time high of $650 very soon. Additionally, a new partnership with the Swiss based SEBA Bank should also continue to make the DeFi crypto an attractive investment option.

With this integration, SEBA Bank will now be able to manage DeFi tokens across SEBA Bank’s full suite service offering, including investment, custody and trading. The expanded array of tokens which includes AAVE will now be available across SEBA Bank’s investment solutions, including tailor-made and actively managed client portfolios in the framework of individualized discretionary mandates.

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

Capital at risk