TL;DR Breakdown
- Aave price analysis is bullish for today.
- AAVE/USD saw another rally overnight.
- AAVE found resistance at $345 again.
Aave price analysis is bullish for today as the market has rallied to $345 resistance over the last 24 hours and currently looks to break higher. As long as we don’t see strong rejection later today, we expect AAVE/USD to continue higher and break above the $345 resistance next.
The cryptocurrency market traded mostly in the green over the last 24 hours. The market leaders, Bitcoin and Ethereum, are up by 1.08 and 3.48 percent, respectively. Meanwhile, Solana (SOL) is among the worst performers, with a loss of more than 4 percent.
Aave price movement in the last 24 hours: Aave rallies to $345 resistance again
AAVE/USD traded in a range of $321.93 – $348.25, indicating mild volatility over the last 24 hours. Trading volume has increased by 3.47 percent and totals $291 billion, while the total market capitalization trades around $13.6 billion, ranking the coin in 37th place overall.
AAVE/USD 4-hour chart: AAVE ready to break higher?
On the 4-hour chart, we can see the Aave price action attempting to break the $345 resistance, which could lead to a lot more upside fi broken.
Aave price action has seen strong volatility over the past weeks. After peaking at $445 on the 17th of August, AAVE/USD spent the rest of August slowly retracing to $345 support.
A rally, which set a lower swing high at $420, was seen from the support during the first week of September. From there, another quick drop of 25 percent was seen on the 7th of September, with support found above $305 this time.
Over the following days, a slight reaction to the upside was followed by another retest of the $305 support. After rejecting further downside, AAVE/USD rallied higher over the last 24 hours and reached the $345 resistance again.
Considering this Aave price action development, we expect more upside to be seen over the following days. If the $345 resistance gets broken today, we expect Aave to rally to $390 next.
Aave Price Analysis: Conclusion
Aave price analysis is bullish today as the market saw a strong move to the upside over the last 24 hours after retesting $305 support. If the current resistance at $345 is broken, we expect AAVE/USD to rally much higher later today, with the next resistance around $390.
While waiting for Aave to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.
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.
