AAVE token price is under tremendous selling pressure as it falls towards the $200 support zone. The price may shortly revert back from the zone.

Aave offers several distinct selling points in a market that is becoming increasingly saturated. It was the largest project in terms of total crypto-locking value during the DeFi craze that took place in summer 2020.

This project lets people <a href="https://www.cryptoknowmics.com/news/aave-price-prediction-2021-2025-set-to-hit-1750-by-2025/">borrow and lend in approximately 20 cryptocurrencies</a>. Users have more options. Flash loans, one of Aave’s most popular products, are billed as DeFi's first uncollateralized loan option. But there's a catch. They must be repaid within the same transaction.

Let us now look at the technical analysis of AAVE cryptocurrency.   
<h2>Past Performance of AAVE</h2>
Since September 16th, the AAVE coin price is under tremendous selling pressure from the resistance of $400. Thus, <a href="https://www.cryptoknowmics.com/news/aave-technical-analysis-price-below-the-fibonacci-pivot-point-of-348-12-support-near-265-270-zone/">falling lower</a> to the $200 support zone. By forming lower lows under the substantial bearish influence. 

<img class="tv-snapshot-image aligncenter" src="https://s3.tradingview.com/snapshots/n/negQg4qP.png" alt="TradingView Chart" width="1244" height="650" />

Source - <a href="https://www.tradingview.com/x/J8Q9pJA6/">Tradingview</a>
<h2>AAVE Technical Analysis</h2>
At the time of writing, AAVE cryptocurrency is at $273. Additionally, it has experienced a fall of 1.58% in the past 24 hours. Thus, indicating the strong bearish sentiment. This may shortly drive the price to the $200 mark.

The push from the solid resistance zone of $400 results in the bearish breakdown is driving the price lower. Thus, resulting in the downfall of more than 30%. However, the approaching $200 support zone can reverse the trend. Thus, pushing the price back under the range.

The RSI slope moves below the central line. The slope moves sideways after the recent fall between the 35% and 45% levels. The breakout of either can give a clear idea of the future trend.

AAVE Token crypto trades below all the crucial Exponential Moving Averages in the daily chart. Moreover, the falling EMA can give rise to a death cross shortly.

The MACD and signal lines are below the zero mark on the daily chart. However, the lines may soon give a bullish crossover as the bearish histograms weaken. The crossover will generate a buy signal.
<h2>Upcoming Trend</h2>
AAVE Token's technical analysis indicates that the AAVE token is under extreme selling pressure. As a result, the coin price can fall to the $200 mark. The $200 support zone can push the price back inside the range.

AAVE Technical Analysis: Price Approaches $200 Mark

AAVE token price is under tremendous selling pressure as it falls towards the $200 support zone. The price may shortly revert back from the zone.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

AAVE Technical Analysis: Price Approaches $200 Mark

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