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  • AAVE Price Back Up Over the $400 mark after having suffered steep drop
  • DeFi cryptocurrency bounces back and provides buying opportunity
  • Long term prospects for AAVE Look Bright Once Again

The AAVE price appears to be strong on the road to recovery after having dropped considerably over midweek. Long term prospects for the DeFi cryptocurrency continue to look good as the crypto market once again begins its upward trend.

After having sunk to the $380 mark on 18 August, the AAVE price recovered remarkably yesterday to reach te $410 level or an increase of 8% and further bullish momentum is expected. At one point, it seemed that bears were once again in control of the market but that proved not to be the case. AAVE is expected to continue its upward trajectory although it is still some way away from its all time high registered in May.

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Short Term Prediction For AAVE Price: Expected To Continue Increasing Slowly

Although there have been some small pullbacks of late, the AAVE price is still continuing its ascending channel started on July 21. AAVE is up by almost 90% from the July 20 low of $226 and has made a remarkable recovery.

If a bullish thesis were to continue playing out, the AAVE price should begin to tag the $430 level, this price point was last reached on 13 August before the minor pullback began. There seems to be strong resistance at this point although the increase is only 6%. If that resistance is broken then a move towards the $450 mark would be the next logical step.

If on the other hand, a bearish element comes into play, the AAVE price would fall once again below the $400 level and find support at the $380 mark. If another sell off occurs, AAVE would probably sink down to the $350 level where another support level may be found. However, such a drop does not look likely, at least in the present circumstances.

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Long Term Prediction For AAVE: Still Looking Bullish and ATH Not Out Of The Equation

Although the ascending channel has been somewhat stunted in the past days, the AAVE price seems to be bullish over a long-term period. The current instability in the crypto market due to the spectre of increased regulation and taxes in relation to the Infrastructure Bill could also be a contributor to investor hesitancy.

With AAVE currently around 30% off its all time high, there is still room for it to continue to grow over the next months. Analysts seem positive for the AAVE rice with predictions varying from $500 to $800 by the end of the year.

Where to Buy AAVE

If you want to purchase AAVE, you can do so on the following exchanges:

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.

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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