AAVE dancing on the edge. Will it break down or reverse up?
I invested in ETHLend (today known as AAVE) first day it get available on Binance back in 2017-18, but unfortunately I sold all after big price increase.
Today everyone knows about it, but it looks like we all forgot a little about it. YTD AAVE price change is 198% which is absolutely ridiculous when we remember all hype from last year until May/2021.
AAVE is currently Rank #51 at CMC with M.Cap of just over 3,5 Billion $.
Market Cap/TVL ratio is 0,22 and Circulating Supply of 83% makes it quite desirable in my opinion.
DeFi isn't that popular lately, but it didn't disappeared. People are still using it, developers are working on new features and I'm 100% sure we will see another DeFi resurrection.
AAVE broke down from its long rage price action and triangle pattern. Now it sitting on long term trend line support. If we broke down I see 190$ region as next support, but I'm more inclined to fakeout and then reversal to new highs.
For further upside action AAVE must reclaim previous support (now resistance) and after that with little spotlights back on DeFi future of AAVE isn't questionable.
10x from current M. Cap will push it on #10 on CMC (current Dogecoin spot) which is not so impossible to happen.
Today everyone knows about it, but it looks like we all forgot a little about it. YTD AAVE price change is 198% which is absolutely ridiculous when we remember all hype from last year until May/2021.
AAVE is currently Rank #51 at CMC with M.Cap of just over 3,5 Billion $.
Market Cap/TVL ratio is 0,22 and Circulating Supply of 83% makes it quite desirable in my opinion.
DeFi isn't that popular lately, but it didn't disappeared. People are still using it, developers are working on new features and I'm 100% sure we will see another DeFi resurrection.
AAVE broke down from its long rage price action and triangle pattern. Now it sitting on long term trend line support. If we broke down I see 190$ region as next support, but I'm more inclined to fakeout and then reversal to new highs.
For further upside action AAVE must reclaim previous support (now resistance) and after that with little spotlights back on DeFi future of AAVE isn't questionable.
10x from current M. Cap will push it on #10 on CMC (current Dogecoin spot) which is not so impossible to happen.