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Aave Price Analysis: AAVE sets higher low at $300, starts to break higher?

TL;DR Breakdown

  • Aave price analysis is bullish today.
  • AAVE/USD established a higher low at $300.
  • Aave is pushing higher this morning.

Aave price analysis is bullish today as a new higher low has been set at $300, and strong upside momentum has been seen this morning. Therefore, we expect AAVE/USD to move to the $345 next resistance later today.

Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded mostly in the green over the last 24 hours. The market leader, Bitcoin, lost 0.57 percent, while Ethereum gained 0.72 percent. Meanwhile, Aave (AAVE) is among the top performers, with a gain of 7.3 percent gain.

Aave price movement in the last 24 hours: Aave sets higher low at $300, starts to rally higher

AAVE/USD traded in a range of $307.97 – $331.20, indicating substantial volatility over the last 24 hours. Trading volume has increased by 43.87 percent and totals $285.4 million, while the total market cap trades around $4.37 billion, ranking the coin in 44th place overall.

AAVE/USD 4-hour chart: AAVE set to reach $345 next resistance today?

On the 4-hour chart, we can see the Aave price action rapidly moving higher this morning, likely leading to a test of $345 resistance next. 

AAVE/USD 4-hour chart. Source: TradingView

Aave price action has seen bullish momentum return over the past weeks. After an initial rally to $325 at the beginning of October, bearish momentum took over for more than a week.

AAVE/USD attempted to move higher with a failure on the 8th of October, forming a double top. From there, a retracement followed to $275, setting a higher low. A reversal back to the upside followed, with another higher low set at $290 a week later.

On the 19th of October, Aave price action saw a strong rally above previous highs, eventually peaking below $340. The following retracement last week established another higher low at $300, leading to the current push higher.

Aave Price Analysis: Conclusion

Aave price analysis is bullish today as a strong rally began this morning after a higher low was established around $300 yesterday. Therefore, we expect AAVE/USD will set another higher high, likely close to the $345 next resistance.

While waiting for Aave to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

This post was last modified on October 26, 2021 8:42 am

Lapin

Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

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