- Aave price analysis is bullish today.
- AAVE/USD established a higher low at $300.
- Aave is pushing higher this morning.
The Aave price analysis is bullish today, as a new higher low has been established at $300, and there’s plenty of optimism right now. As a result, we anticipate that AAVE/USD will hit the $345 next barrier later today.
Meanwhile, the overall cryptocurrency market is trading bearishly with most coins recording losses of up to 5%. Binance Coin, Solana, and Vechain are among the only few gainers on the one-day chart. Market leaders Bitcoin and Ethereum lost 0.72 and 0.34 percent respectively.
Aave price movement in the last 24 hours: Aave sets higher low at $300, starts to rally higher
Recent price changes have reflected the overall market sentiment, albeit with distinct volatility to Aave price. AAVE/USD was trading between $323.97 and $336.20, representing significant fluctuations over the previous 24 hours. Volume has increased by 43%, reaching $285 million in volume, while the price has decreased by 1.75%, and currently, the market cap stands at $166,917 million.
Aave is one of the best performing cryptocurrencies since yesterday’s low point at $280, as it has increased in value by 7.3%.
AAVE/USD 4-hour chart: AAVE set to reach $345 next resistance today?
We may see the Aave price activity increasing rapidly this morning, which will most likely lead to a test of $345 resistance next on the 4-hour chart.
AAVE/USD 4-hour chart. Source: TradingView
Over the last few weeks, Aave’s price action has shown a resurgence of bullish momentum. After a brief rally to $325 at the start of October, the bearish sentiment prevailed for more than a week.
On the 8th of October, the price failed to reach $500. On the 9th, it attempted to move higher once more, forming a double top. Then came a retracement back down to $275, establishing a higher low. A return to the upside followed with another high at $290 seven days later.
On the 19th of October, Aave’s price increased significantly above previous highs, peaking at $340. The following retracement last week produced another higher low at $300, resulting in the current advance.
Aave Price Analysis: Conclusion
The analysis of Aave’s price is bullish today, as a strong rally began this morning following yesterday’s higher low at $300. As a result, we anticipate AAVE/USD to rise to another high near the $345 resistance level.