The DeFi market is showing a promising growth but if you closely analyze then you will find that the DeFi tokens are more volatile then the top cryptocurrencies. At the time of writing, most of the DeFi tokens are in the green zone; though, there are some exceptions such as Chainlink (-0.45%), Compound(-1.73%), and Ampleforth (-46.63%).
One such DeFi token Aave (LEND) is showing promising growth. The token has already recorded a gain of +23.47%. Is Aave (LEND) a good investment? Let’s take a look at it.
Aave Price Analysis: LEND is showing an Upward Trend
As per the daily price chart, the Aave (LEND) is displaying an upward trend. If you closely observe then you will find that it is based on a Relative Strength Index (RSI). The percentage change in the current market cap of an asset, vs USD, linked with 24hrs ago is displaying 23.47% growth, and the range between the lowest and highest trading prices in US Dollars is $0.334 – $0.350. Now, to continue climbing upwards, the bulls require to acquire control. This is why a revision could be the most possible situation within the next few days. At the time of writing, the LEND is trading at $0.3349.
The MACD is currently giving bullish signals, but this upward trend should be handled with care because the trading volume is declining sharply. The following is the market data:
Price (USD) $0.347
Price (BTC) 0.0000316
Real Volume (24H) $45,273,011.27
Reported Volume (24H) $72,831,358.92
Aave Price Analysis – The correction target for LEND
Against Bitcoin, the Aave price is already in the middle of a strong correction. If this continues, the correction targets will be ± 0.00003257 BTC and ± 0.00002107 BTC.
The DeFi lending protocol Aave has published its plan, called Aavenomics, for transforming to the decentralized, community-operated power with a new token to boot. This could be one of the reasons why the price is rising.
The reported supply is 1,299,999,922.18 and based on the aave historical price data, the aave (LEND) price could be between $0.2543 to $0.2952 at the end of the year 2020. Now, is LEND a good investment? To be honest, it is still an early scene. The good thing is that they are active on social media and they have a very detailed road map. It’s all about the AAVE Market Cap. The cap is still really small but it could be a decent buy considering the progress and other technical indicators. We wish you very happy trading!
>> Buy Aave at the current Aave rate . <<<