The AAVE token price is trading above the demand zone on a daily time frame.
The pair of AAVE/USD is trading at the price level of $55.38 with a decrease of -2.41% in the past 24 hours.
Aave, along with Uniswap (UNI), Compound (COMP), and Curve, is recognized as one of Ethereum’s top DeFi protocols. Aave is also used on the layer-1 network Avalanche (AVAX) and the layer-2 protocol Polygon on Ethereum (MATIC).
AAVE gaining bullish momentum on the daily chart
Source: TradingView
The AAVE token has rebounded from the long-term demand zone. The AAVE token is presently trading at $55.38 on the daily chart. It is now trading below its key Moving Averages (50 and 200 EMA). (Red line is 50 EMA and the blue line is 200 EMA). Token is facing resistance at the 50 EMA, and in order to break the downtrend and continue the uptrend, the token must cross the 50 EMA in an upward direction and sustain above it.
Relative Strength Index: The asset’s RSI curve is currently trading at 47.54. As the t
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