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Aave price analysis: AAVE price inflates to $287 as bulls gains four percent more

Aave price analysis AAVE price inflates to as bulls gains four percent more

TL;DR Breakdown

  • The Aave price analysis is bullish today.
  • Strong resistance is present at $301.
  • Support for AAVE is present at $283.

The Aave price analysis is bullish for today as the price nears the $290 psychological mark. The bullish momentum started on 14th December, and the trendline has been upwards since then. A few retracements have also been observed in between when the coin corrected, but the overall trend has been upwards. Today the bullish momentum has broken past the $279 and $283 crucial resistance levels, and as a result, the price is moving past the $287 range towards the $290 range.

AAVE/USD 1-day price chart: Bullish momentum inflates to $287

The 1-day Aave price analysis shows a significant increase in AAVE/USD pair value, as the coin is trading hands at $287.4 at the time of writing. The crypto pair reports an increase in price value amounting to 4.6 percent during the last 24 hours, and the crypto pair also reports an increase in price value by 67 percent over the past week. The market cap also increased by 3.36 percent overnight, and the trading volume also increased by 23 percent.

Aave price analysis: AAVE price inflates to $287 as bulls gains four percent more 1
AAVE/USD 1-day price chart. Source: TradingView

The Bollinger bands expansion shows high volatility, with the upper band at $281 representing support for Aave as the price is trading above this level, and the lower band is at the $124 mark. The moving average (MA) is at the $232 mark above the Bollinger bands average line, which is at $203. The relative strength index (RSI) is at the border of the overbought zone at index 69. The slope of the indicator is upwards, indicating the buying activity in the market.

Aave price analysis: Recent developments and further technical indications

The 4-hour Aave price analysis shows the price function remained upwards for most of the time, bears intervened just a few hours back, and a small retracement was observed. However, bulls have secured handsome profits for today, and we expect Aave bulls to make a comeback soon.

Aave price analysis: AAVE price inflates to $287 as bulls gains four percent more 2
AAVE/USD 4-hours price chart. Source: TradingView

The coin is a little overbought, as the RSI is suggesting as the indicator is present at index 72, the curve of the indicator is almost straight horizontal, hinting at a tough competition between bulls and bears. The volatility is comparatively high for Aave on the 4-hour chart, as the Bollinger bands are still covering a little more area after converging till yesterday. The upper band is at the $291 mark representing resistance, and the lower band is at the $248 mark. The average of Bollinger bands is $270. The moving average (MA) is at the $267 mark.

Aave price analysis conclusion

The Aave price analysis suggests the coin is bullish, but the price oscillation has slowed down a bit, and even a retracement has also been observed, but despite the retracement, we expect AAVE to test the $291 resistance level in the coming hours today as a swing high towards $293 was also observed.

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.

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