{"id":167937,"date":"2023-10-04T11:33:15","date_gmt":"2023-10-04T06:03:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=167937"},"modified":"2023-10-04T11:33:15","modified_gmt":"2023-10-04T06:03:15","slug":"aave-can-traders-benefit-from-this-recovery-extension-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aave-can-traders-benefit-from-this-recovery-extension-crypto-news\/","title":{"rendered":"AAVE: Can traders benefit from this recovery extension?\u00a0 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">AAVE retested a July support of $68.<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">\u00a0Futures market demand has improved since mid-September.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The late September\u2019s extended market recovery tipped <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/AAVE\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Aave [AAVE]<\/span><\/a><span style=\"font-weight: 400\"> to hit the top two <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/aave-back-in-top-two-as-defi-tvl-recovers\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">DeFi protocols<\/span><\/a><span style=\"font-weight: 400\"> as total value locked (TVL) improved. On the price performance front, AAVE\u2019s second leg of recovery hit +20%, peaking at $72.4 before a slight pullback at press time.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/aave-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">AAVE Profit Calculator<\/span><\/a><span style=\"font-weight: 400\">\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">A week ago, AMBCrypto was <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/aave-eases-to-a-demand-zone-will-buyers-benefit\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">bullish<\/span><\/a><span style=\"font-weight: 400\"> on AAVE after it retreated to $60 and projected it could hit $65. The projection was validated, and an extended recovery could happen if <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400\"> surges further.\u00a0<\/span><\/p>\n<h4>Will the recovery extend?<\/h4>\n<div id=\"attachment_348300\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/AAVEUSDT_2023-10-03_14-36-23.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-348300\" class=\"size-full wp-image-348300\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/AAVEUSDT_2023-10-03_14-36-23.png\" alt=\"AAVE\" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-348300\" class=\"wp-caption-text\">Source: AAVE\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">At press time, AAVE retested an invalidated daily bullish order block (OB) of $66.45 \u2013 $70.7 (red) and support zone in July. If BTC doesn\u2019t post immediate losses, AAVE bulls could defend the support zone.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If so, the third leg of recovery from the July support could tip AAVE to hit $75 and $80 levels. Such an extended recovery could offer modest gains if AAVE is bought at the support level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">But a drop below the support zone will flip the higher timeframe market structure bearish. So, a drop below the $66.45 would invalidate the bullish bias. But a liquidity hunt below the support level couldn\u2019t be overruled.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) were positive at press time, but the downticks meant that buying pressure and capital inflows eased slightly. Hence, tracking BTC movements is crucial for optimized set-ups.\u00a0<\/span><\/p>\n<h4>AAVE\u2019s demand recovered in September<\/h4>\n<div id=\"attachment_348301\" style=\"width: 1868px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/AAVE-Open-Interest-rates.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-348301\" class=\"wp-image-348301 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"AAVE\" width=\"1858\" height=\"646\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/AAVE-Open-Interest-rates.png 1858w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/AAVE-Open-Interest-rates-300x104.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/AAVE-Open-Interest-rates-1024x356.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/AAVE-Open-Interest-rates-768x267.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/AAVE-Open-Interest-rates-1536x534.png 1536w\" data-lazy-sizes=\"(max-width: 1858px) 100vw, 1858px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/AAVE-Open-Interest-rates.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-348301\" class=\"wp-image-348301 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/AAVE-Open-Interest-rates.png\" alt=\"AAVE\" width=\"1858\" height=\"646\" \/><\/a><\/p>\n<p id=\"caption-attachment-348301\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">According to Coinglass, AAVE\u2019s Open Interest rates improved in the second half of September. It indicates that demand for AAVE recovered in the derivatives market over the same period and spiked in October.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-aave-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 AAVEs worth toda<\/span><\/a><span style=\"font-weight: 400\">y?\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">However, the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/AAVE\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">metric<\/span><\/a><span style=\"font-weight: 400\"> was down 8% at press time, indicating a building short-term bearish pressure. So, tracking BTC price action is key for risk mitigation.\u00a0<\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion AAVE retested a July support of $68. \u00a0Futures market demand has improved since mid-September.\u00a0 The late September\u2019s extended market recovery tipped Aave [AAVE] to hit the top two DeFi protocols as total value locked [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":167938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-167937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=167937"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167937\/revisions"}],"predecessor-version":[{"id":167943,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167937\/revisions\/167943"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/167938"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=167937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=167937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=167937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}