Aave Price Analysis: AAVE/USD set to break past the $210 soon

Polkadot Price Analysis

TL;DR Breakdown

  • Aave price analysis is bullish today.
  • AAVE/USD is currently trading at $199.
  • Support found around $170.

The analysis of Aave’s price is bullish today, as we anticipate further recovery to follow after a fast rejection of the downside at $170 previous June swing low. As a result, AAVE/USD is expected to return to retest previously strong support around $225 as resistance.

The analysis of Aave’s price is bullish today, as we anticipate further recovery to follow after a fast rejection of the downside at $170 previous June swing low. As a result, AAVE/USD is expected to return to retest previously strong support around $225 as resistance.

Aave price movement in the last 24 hours: Aave sets strong lower low at $170, reacts higher

After a bearish price rejection of recent low of around $170, AAVE/USD reacted higher and hit resistance around $225, where further selling occurred to lead into quick retracement back down to previously strong support at $200, which was quickly broken following high buying volume towards the end of the session. However, after reaching this level previous swing high marks were found suggesting initial bearish exhaustion with prices making further recovery to levels above June daily open price within 24 hours timeframe or so before further selling pressure returns.

Aave’s 50-day moving average (MA) is about to cross above the 200-day MA, triggering a bullish crossover and further confirming the current uptrend. This technical signal has a high success rate in predicting future price movements and should lead to an increase in buying pressure as well as a

AAVE/USD 4-hour chart: Bullish crossover imminent

Aave’s price action is beginning to recover, quickly rising back above the 190 mark on the long-term chart.

Aave Price Analysis: AAVE/USD set to break past the $210 soon 1
AAVE/USD 4-hour chart. Source: TradingView

AAVE/USD has dropped in price for the past few weeks, with a previous low of $225 being reached at the end of November. On Wednesday, AAVE/USD regained some of its losses as it retraced to $270.

However, over the last 24 hours, AAVE/USD has dropped significantly lower in tandem with the overall market downturn. The $170 June major swing low was revisited after a 30 percent surge to the downside.

The bulls were in the driver’s seat throughout yesterday, with reaction growing stronger as bears became more weary. The price action for Aave has continued to shrink gradually higher since then and is expected to do so over the next 24 hours. As a result, we should see the $225 support level revisited later this weekend, followed by resistance.

Aave Price Analysis: Conclusion 

Today’s Aave price forecast is positive since we expect a recovery following a fast rejection of the downside around $170. We believe that the AAVE/USD downswing has come to an end, and that it will recover some of its losses over the weekend.

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.

Sergio Goschenko

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Related News

Hot Stories

Dogecoin price analysis: DOGE/USD set to break above $0.1 soon?
Ripple price analysis: XRP/USD set to break above the $0.5 resistance
Cardano Price Prediction 2022-2030: Is ADA a good investment?
Dogecoin founder says 95% of cryptocurrencies are ''scam and garbage"
China re-emerges as second-largest bitcoin mining center despite recent ban

Follow Us

Industry News

The Pussyverse: How cryptocurrency Could tackle gender inequality in finance
MiamiCoin and NewYorkCoin plummet over 85% despite Mayoral endorsements
Cloudflare grants public access to Ethereum and IPFS gateways
Coinbase slows down hiring plans after Q1 losses
Korea's authorities open investigation into TerraUSD collapse