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Aave price analysis: AAVE price deflates to $249 as the bearish trend continues

Aave price analysis AAVE price deflates to as the bearish trend continues

TL;DR Breakdown

  • The Aave price analysis is bearish today.
  • Strong resistance is present at $257.
  • Support for AAVE is present at $246.

The Aave price analysis shows the price has been traveling low since yesterday as the bears have been successfully in the lead. A downtrend has been observed today as well, as the price has been lowered to the $249 level as the bears have regained their strength. This has proved to be quite detrimental for the overall coin value, as chances of recovery have been postponed. It is expected that further decline will follow in the upcoming hours as well.

AAVE/USD 1-day price chart: Aave continues downside after facing rejection at $257

The one-day Aave price analysis is confirming a bearish price movement for today, as the price has declined up to $249.8 till the time of writing after swinging high towards $257. The price has been experiencing a fall since the past few hours again as bears are continuing their endeavor. The bears have caused a loss in price value amounting to more than 11 percent in the last 24 hours after gaining the advantage of the situation.

Aave price analysis: AAVE price deflates to $249 as the bearish trend continues 1
AAVE/USD 1-day price chart. Source: TradingView

The volatility has increased during the day, which is yet another bearish sign. As a result, the upper Bollinger band value has now moved up to $289, representing resistance, whereas the lower Bollinger band value moved down to $128. The Relative Strength Index (RSI) score has undergone reduction to a certain degree as well as the indicator’s curve is downwards. The RSI is now at index 57.

Aave price analysis: Recent developments and further technical indications

The four hours Aave price analysis is declaring the bearish trend as the price has been consistently declining despite breaking upwards at the start of the trading session. A downward trend has been observed since the past few hours as the price has moved down to the $249 level. The price has dropped significantly as the bearish momentum has been intensifying since the last four hours.

Aave price analysis: AAVE price deflates to $249 as the bearish trend continues 2
AAVE/USD 4-hours price chart. Source: TradingView

The volatility on the 4-hour chart is increasing again, and as a result, the upper Bollinger band value has shifted to $296 and the lower Bollinger band value to $244. The RSI score has decreased to index 41 because of the drastic drop in AAVE/USD value due to the selling pressure.

Aave price analysis conclusion

The price experienced a drop today as it has been confirmed from the one-day and four hours Aave price analysis. Although the price went higher at the start of the trading session, following yesterday’s bearish trend, the bears are now back on track as they have been able to bring the price down to the $249 level in the last 4 hours. The cryptocurrency is to face more loss in the future as the hourly prediction has been on the unfavorable side as well.

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.
Dennis Mugambi

Dennis Mugambi

Dennis is a content writer with a deep understanding of the blockchain domain and cryptocurrency field. He infuses cold data with flair to make technology and finances mind-blowing. His reports both fascinate and awaken the readers.

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