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Aave Price Analysis: AAVE/USD is bullish for the next 24 hours

Chainlink Price Analysis

TL;DR Breakdown

  • Aave price analysis is bullish today.
  • AAVE/USD bounced from $290 support yesterday.
  • Closest resistance at $310.

Analysis of the Aave price today is bullish, as support was found at $290 yesterday, resulting in a higher reaction today. As a result, we anticipate that AAVE/USD will continue to climb over the next 24 hours.

The closest resistance to today’s bullish move is at the psychological round number of $310. We expect a retracement from this level, but as long as prices stay above $290, we retain a bullish outlook for AAVE/USD over the short term.

The MACD and RSI indicators are both bullish, providing further confirmation of the current uptrend.

Aave price analysis is bullish today, as support was found at $290 yesterday, resulting in a higher reaction today. As a result, we anticipate that AAVE/USD will continue to climb over the next 24 hours. The MACD and RSI indicators are both bullish, providing further confirmation of the current uptrend.

The closest resistance to today’s bullish move is at the psychological round number of $310. We expect a retracement from this level, but as long as prices stay above $290, we retain a bullish outlook for AAVE/USD over the short term.

Aave price movement in the last 24 hours: Aave finds support at $290, tests upside

The price of RVN/USD fluctuated between $290.35 and $310.58 during the day, showing little volatility over the previous 24 hours. Trading activity was down by 14.26 percent to $167 million. The market capitalization is valued at around $3.93 billion, putting it in 45th place out of all cryptocurrencies tracked by Coinmarketcap.

AAVE/USD 4-hour chart: AAVE looking to set a higher low at $290?

On the 4-hour chart, we can see Aave price movement react positively to the $290 support, suggesting more gains over the next 24 hours.

Aave Price Analysis: AAVE finds support at $290, reversal to follow?AAVE/USD 4-hour chart. Source: TradingView

In October, Aave’s price action has been mostly sideways. The trading range upper limit was established at the beginning of the month when a rally to $325 hit where a higher high was made.

After a retreat and consolidation in the $310-$320 range, another attempt to surpass the $325 was seen on October 8th. The upward advance was followed by a significant retracement back to $270.

Since then, the Aave price action has been gradually trending higher, reaching a slightly lower high of $320 recently. Over the previous days, there was a retracement back to $290, where an additional low could be set, pushing AAVE/USD towards further gains later this week.

Aave Price Analysis: Conclusion 

The Aave price is up today as a new higher low was established yesterday at $290. We anticipate AAVE/USD to rise further over the next 24 hours, unless the $290 mark is broken to the downside.

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.

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