AAVEUSDT ( Aave) – Coin of the Week
Aave is a decentralized financial protocol that enables users to lend and borrow cryptocurrency. Lenders earn interest by depositing digital assets into specially created liquidity pools. Borrowers can then use their crypto as collateral to take out a flash loan using this liquidity. When it was debuted in November 2017, Aave (which means "ghost" in Finnish) was known as ETHLend, however it was rebranded to Aave in September 2018. AAVE acts as a governance token, allowing owners a say in the protocol's future development. It also offers holders with lower platform costs.
Technically, Aave follows the same price structure as the bigger market capitalization cryptocurrencies. We had a top in May at the price of 669 USDT per Aave, followed by a crash that created a low at 223 USDT. From the 23rd of May (the day of the low) we are in a consolidation, with the price moving between a resistance and support area. The higher probability move right now is a spike to the upside that will reach the resistance area, with or without touching the support before going up.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, Aave follows the same price structure as the bigger market capitalization cryptocurrencies. We had a top in May at the price of 669 USDT per Aave, followed by a crash that created a low at 223 USDT. From the 23rd of May (the day of the low) we are in a consolidation, with the price moving between a resistance and support area. The higher probability move right now is a spike to the upside that will reach the resistance area, with or without touching the support before going up.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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