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Aave price analysis: AAVE retests $188 as resistance after the desired bullish push

Aave price analysis AAVE retests as resistance after the desired bullish push

TL;DR Breakdown

  • The Aave price analysis is bullish.
  • Resistance for Aave is present at $201.5.
  • Support is present at the $177.7 level.

The Aave price analysis is on the bullish side today as the bulls are maintaining their lead for the third day consecutively. Cryptocurrency has managed to recover to a level to overcome the huge losses incurred before 11 April 2022. The price level has retouched the $188 as bulls showed marvelous performance yesterday, and the trend is the same for today. The bullish momentum is steady, and the price trend line is going upwards again, which is an encouraging sign for buyers as AAVE/USD has successfully broken above the $184 resistance, and now bulls are retesting $188 at the moment.

AAVE/USD 1-day price chart: Price rises in search for recovery

The one-day price chart showing Aave price analysis is going smoothly towards a restoration of the coin value. For the last few days, the coin experienced significant gains as the trend line has been upward for the past week and the coin gained 8.68 percent value during this time. As the crypto pair is trading at $188 at the time of writing, it also reports a 5.57 percent increase in value for the last 24 hours of price action. The trading volume has also increased by more than 85 percent over the past day, and the moving average (MA) is trading around $174 below the current price level.

Aave price analysis: AAVE retests $188 as resistance after the desired bullish push 1
AAVE/USD 1-day price chart. Source: TradingView

The SMA 20 is going lower than the SMA 50 curve as the trend was steeply downwards before 11 April 2022. The volatility is also high on the 1-day chart, indicating that the bullish momentum may further intensify. The Bollinger bands show the upper band at $248, representing the resistance for AAVE price, while the lower band is present at $137, representing the strongest support for AAVE/USD. With the continuous increase in price, the Relative Strength Index (RSI) also went up to index 53, which is quite impressive considering the current market situation.

Aave price analysis: Recent developments and further technical analysis

The 4-hours price chart for Aave price analysis is displaying positive signs for the bulls as the price levels are increasing on a regular basis. The hourly trend is also the same as after every correction, bulls are taking the game to another height, and the price is expected to cross $188 resistance which is currently under test. A comparatively stronger correction was observed four hours earlier as the bulls were exhausted, but now bulls have taken over again.

Aave price analysis: AAVE retests $188 as resistance after the desired bullish push 2
AAVE/USD 4-hours price chart. Source: TradingView

The Bollinger bands are diverging sharply on the four-hour chart, with the upper value climbing to $193 and the lower one going down to $155. The upper band is showing more divergence, which hints at a possibility of a further increase in price levels in the coming hours. The RSI curve traveled down during the last correction, but now it has taken a turn and started an upward movement, with the score reaching index 63, indicating the buying momentum returning in the market.

Aave price analysis conclusion

From the above Aave price analysis, we can say in the past week, the price levels have experienced instability at various points, but bulls managed to maintain their lead. However, the corrections observed during that time were also essential for further up move, Yet the AAVE gained strength against the bearish momentum and succeeded in breaking above the $184. If the current bullish momentum continues, which we expect to continue for today, then there is a great chance that cryptocurrency will get a break above the $188 resistance mark soon.

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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