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Aave price analysis: Bullish momentum helps elevate AAVE to $228

Aave price analysis Bullish momentum helps elevate AAVE to

TL;DR Breakdown

  • The Aave price analysis is bullish.
  • Resistance for Aave is present at $243.
  • Support is present at the $222 level.

The Aave price analysis is bullish as it shows the price has increased further after rallying yesterday. The market has been following a bullish trend as prices are recovering, but as the price reached $241.8. The selling pressure continued to build, and the price oscillated downwards. However, bullish efforts emerged again, and the price is currently at the $228 level. Support is present at $222; AAVE may get support at this point and may start recovering again if the support proves strong enough.

AAVE/USD 1-day price chart: Price decrease after rallying

The 1-day price chart for Aave price analysis shows bulls are defining the price action for today. The AAVE has been continuing upside for today after closing at $222 in the previous trading session. The crypto pair is trading hands at $228 at the time of writing. However, the selling pressure is also there as the coin price has decreased after swinging high.

The past week has been good for the crypto pair as the price trend line remained slightly upwards. The coin started on an aggressive spike yesterday, as the coin reported a 51.82 percent increase in value over the last week. The trend continues today as the bulls continue to dominate the price charts and elevate the value further. The moving average (MA) is standing at $176, below the price level.

Aave price analysis: Bullish momentum helps elevate AAVE to $228 1
AAVE/USD 1-day price chart. Source: TradingView

The volatility for the Aave price function is high as the Bollinger Bands indicate, with the Upper band at $214 representing the support and the lower band at $96 representing the strongest support, making an average at $155. The price trades above the uppermost limit of the volatility indicator. The relative strength index (RSI) confirms today’s uptrend as it trades at index 80 in the overbought region, but the curve has straightened out, hinting at the bearish pressure also playing in.

Aave price analysis: Recent developments and further technical analysis

The 4-hour price chart for Aave price analysis shows a correction that started during the last four hours with a price breakout in the downwards direction today. The price has come down to the $228 level in the last four hours after covering the range downwards. However, the price is still trading in the green as the bullish moves were overwhelming during the day and the bullish side still dominates the market.

Aave price analysis: Bullish momentum helps elevate AAVE to $228 2
AAVE/USD 4-hours price chart. Source: TradingView

The volatility is high on the 4-hour chart as the Bollinger Bands average is forming at $195, which now indicates support for the AAVE/USD pair price, while the upper band is at $249, and the lower band is at the $142 mark. The RSI has also been decreasing towards the neutral zone border at index 70 but is still at a higher level.

Aave price analysis conclusion

The Aave price analysis shows that the coin has continued upward today. However, it is currently in correction and may continue to follow a downtrend for a few hours more if the selling pressure persists. We may soon test the support at $222, but it seems strong enough to keep the cryptocurrency price afloat. On the other hand, if the support fails to hold, AAVE may continue downside towards the $210 range.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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