Aave price analysis: AAVE loses value at $200

AAVE

TL;DR Breakdown

  • The Aave price analysis appears to be bearish.
  • The strongest resistance is present at $259.7.
  • The strongest support is present at $187.1.

The Aave price analysis reveals the cryptocurrency to be following a declining trend, where significant devaluation has been occurring for the past few days. The price of AAVE/USD had reached the $210 mark on April 6, 2022, before declining to $204 on April 7, 2022. The price suffered a flash crash on the same day, which further devalued the price. As a result, the price went from $204 to the $200 mark.

The current trading price fr AAVE is $200. Aave has been down 6.51% in the last 24 hours, with a trading volume of $481,011,252. AAVE has a live market cap of $2,781,813,236 and a circulating supply of 13,676,926 AAVE coins. AAVE currently ranks #48 in the cryptocurrency rankings.

AAVE/USD 4-hour price analysis: Latest developments

The Aave price analysis has revealed the market volatility to be massive and following a declining trend, making the price of the cryptocurrency less exposed to experiencing variable change on either extreme. The upper limit of the Bollinger’s band is present at $251.4, which serves as the strongest resistance for AAVE. Conversely, the lower limit of the Bollinger’s band is available at $187, which represents the strongest support for AAVE.

The AAVE/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish trend. Bears have dominated the market for a while, and now that the volatility is decreasing, they could completely engulf the market. However, the price seems to follow an upward movement after breaking the support yesterday. It seems the market has reversal tendencies.

Aave price analysis: AAVE loses value at $200 1
AAVE/USD 4-hour price chart source: TradingView

The Aave price analysis reveals the Relative Strength Index (RSI) to be 36, and this value indicates a relatively undervalued cryptocurrency. Furthermore, the RSI path appears to be following a downward approach which shows that the cryptocurrency shows declining signs of being further devalued or being devalued, for that matter.

Aave price analysis for 1-day: The market moves downward

The Aave price analysis shows market volatility following a dormant trend, not showing signs of increasing or decreasing. Although the market’s volatility is massive, it doesn’t seem to be following a declining or inclining trend. This means that the Aave prices subject to fluctuations will remain constant until the volatility shows signs of falling to either extreme. The upper limit of the Bollinger’s band exists at $259.7, which acts as the strongest resistance for AAVE. The lower limit of the Bollinger’s band is available at $123.6, representing the strongest support for AAVE.

The AAVE/USD price appears to be crossing under the Moving Average curve, indicating a strong bearish trend. The market remains bearish, with massive volatility. We can observe the AAVE/USD price path following a downwards movement.

Aave price analysis: AAVE loses value at $200 2
AAVE/USD 1-day price chart source: TradingView

The Aave price analysis reveals that the Relative Strength Index (RSI) is 54, meaning that the cryptocurrency does not fall to either extreme. The cryptocurrency currently belongs to neither the undervalued lot nor the overbought category. The RSI can be seen following a slight upward movement that reflects an increasing market trend and small chances of a reversal.

Aave Price Analysis Conclusion

The Aave price analysis concludes that the cryptocurrency follows a definite bearish trend. The price reached $210 on April 6, 2022; however, the price has been struggling even to the $205 mark now. The price has been on a decline ever since then. The current price of Aave is $200. The cryptocurrency is suffering from severe devaluation. The bears have gripped the market and are not keen on letting go quickly.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

Related News