Bitcoin-Backed Credit: A Pathway to Financial Access for the Unbanked

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Dec 03 2024

AAVE-1.856%

IMX-2.993%

Should l Buy AAVE?

Financial Exclusion and Bitcoin-Backed Credit: Approximately 1.4 billion adults are unbanked globally, facing life-altering financial exclusion; Bitcoin-backed credit offers a solution by allowing users to leverage their Bitcoin as collateral for loans without traditional banking barriers.
Benefits and Risks of Bitcoin-Backed Credit: This system provides advantages like no credit checks and global accessibility, but also poses risks such as price volatility and regulatory challenges, highlighting the need for balance between innovation and inclusivity in the financial landscape.

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Technical Analysis for AAVE

Technical Sentiment Analysis for Aave (AAVE) As of , Aave (AAVE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for AAVE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, AAVE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Aave (AAVE) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	47.829	70.04	94.189	116.4	140.549	162.76	186.909
Fibonacci	70.04	87.749	98.69	116.4	134.109	145.05	162.76

About AAVE

Aave is a decentralized finance protocol that allows people to lend and borrow crypto.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.Aave (which means “ghost” in Finnish) was originally known as ETHLend when it launched in November 2017, but the rebranding to Aave happened in September 2018. (This helps explain why this token’s ticker is so different from its name!)AAVE provides holders with discounted fees on the platform, and it also serves as a governance token — giving owners a say in the future development of the protocol.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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