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Aave price analysis: AAVE price inflates back to $256.6 as bullish momentum continues

Aave price analysis AAVE price inflates back to as bullish momentum continues

TL;DR Breakdown

  • The Aave price analysis is bullish today.
  • Strong resistance is present at $263.
  • Support for AAVE is present at $221.

The AAVE price analysis is bullish today, as an increase in price up to $256 has been observed. The bullish momentum that started on 27th November is continuing today as well for the fourth day consecutively.

As the price has reached $256, the next target for bulls is the resistance of $263, which basically is the price point from where the coin fell during the 26th November flash crash. In contrast, support for AAVE is present at the $221 level. Overall, AAVE is on a downtrend from 10th November and has lost $80 in price value since then.

AAVE/USD 1-day price chart: Bulls successful in crafting a short-term upwards trend

The 1-day AAVE price analysis shows an increase in price for today as well as the coin is trading at $256.6 at the time of writing; AAVE overall traded in a range of $250 to $258 today. AAVE/USD pair shows an increase in value by 7.3 percent over the last 24 hours but reports a loss of 4.94 percent over the past week as the overall trend is still downwards and AAVE hasn’t recovered from the 26tth November loss yet. The trading volume has increased by more than 25 percent, and the market cap has increased by 6.9 percent.

Aave price analysis: AAVE price inflates back to $256.6 as bullish momentum continues 1
AAVE/USD 1-day price chart. Source: TradingView

The volatility is high, but now the upper limit of the Bollinger bands is coming downwards, hinting at a decrease in volatility in the future, while the lower band is present at the $221.9 level representing support for AAVE, and the mean average of the indicator is present at the $272.9 mark representing resistance for AAVE to overcome if the bullish momentum continues.

The price also traveled above the moving average (MA) today, which is present at the 251 mark, and the relative strength index (RSI) is present at index 42, trading on an upwards curve hinting at the buying activity in the market. In the last four days, the RSI score has improved significantly, as it came up from the border of the undersold zone to the current level.

Aave price analysis: Recent developments and further technical indications

The 4-hour AAVE price analysis shows that the price breakout was upwards at the start of today’s session and still continues upwards as the price has reached 256.86 now. The price function has continuously upwards for the last 16 hours, and by looking at the previous trend, it can be assumed that a correction will soon start.

Aave price analysis: AAVE price inflates back to $256.6 as bullish momentum continues 2
AAVE/USD 4-hours price chart. Source: TradingView

The volatility has been increasing on the 4-hour chart also as the Bollinger bands are expanding, the upper band at the $254.9 mark here represents support for AAVE price as the price is trading above the upper band. The MA is present at the $244 mark, and the RSI is present at index 63, but the upwards curve of the RSI is now flattening out, hinting at a slow down in the buying activity, and its a sign of bullish exhaustion as well.

Aave price analysis conclusion

The AAVE price analysis shows that the coin has recovered significantly during the past few days, and most improvement has been observed during the last few hours. As mentioned, there are signs of bullish exhaustion, as the 4-hour RSI also indicates, and we might observe a correction in the coming hours.

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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