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Aave price analysis: AAVE prices enter a bullish phase after a brief downside

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TL;DR Breakdown

  • Aave price analysis is bullish
  • AAVE prices are facing resistance at the $175.0 level
  • Support for Aave prices is present at the $155.88
Aave price analysis: AAVE prices enter a bullish phase after a brief downside 1
Cryptocurrencies prices heatmap, source: Coin360

Aave price analysis for today shows a bullish trend whereby the prices opened the daily trading session trading below the $170.70 level. The market is facing resistance at the $175.0 level while support is seen at the $155.88 level. The prices corrected lower earlier this week after a bullish rally that saw the prices trade near $180.00. The Aave prices have entered the bullish phase and are now up by $1.65 percent, trading at $172.28 at the moment of writing.

The market outlook for Aave remains bearish in the short term, as price action continues to show signs of weakness below the key resistance level at $175.0. A break below this level could signal further downside momentum, with potential support levels seen at $155.88 and $143.76. On the other hand, a sustained move above $175.0 could see Aave prices attempt to reclaim the $180.00 level once again.

Aave price movement in the last 24 hours: Bears seem exhausted as bulls come in to recover the market

Aave price analysis over the last 24 hours shows AAVE prices have been trading above the $170.0 level before the bulls came in to push the prices upwards. Bulls need to put more pressure to retain control as the market is facing some difficulty in continuing the rally. The prices have formed a bearish trendline on the 1-day price chart as the trading volume increases due to the ongoing battle for control of the prices. Bulls are however on the cards today, as the market looks poised to test the $180.00 resistance level again in an effort to reclaim that price area and resume its upward momentum.

Aave price analysis: AAVE prices enter a bullish phase after a brief downside 2
AAVE/USD 1-day price chart, source: TradingView

The technical indicator on the 1-day price chart indicates a bullish market, as the MACD is moving above the signal line while the RSI has climbed above 40. These indicators support further upside movement of Aave prices and could see the bulls push on to test the $180.00 resistance level again in today’s trading session. The Bollinger bands are however contracting and indicate low market volatility as the market indecision continues.

AAVE 4-hour price chart: Prices enter a bullish trend as the market looks to reclaim the $180.00 level

Aave prices are in a bullish trend on the 4-hour price chart as the market looks to reclaim the $180.00 resistance level. The MACD is moving above the signal line as the market bulls look to take control while the RSI is trading above the 50.0 level, indicating further upside momentum in today’s trading session. The Bollinger bands are however contracting and this could see prices experience some consolidation below the $180.00 level before a breakout to the upside.

Aave price analysis: AAVE prices enter a bullish phase after a brief downside 3
AAVE/USD 4-hour price chart, source: TradingView

The moving averages for Aave are also in a bullish trend, indicating that the bulls could continue to push on higher and test the $180.00 resistance level. Key levels to keep an eye on this week are $175.0 and $160.00 where prices may be forced to consolidate before a further upward movement as market uncertainties remain high.

Aave price analysis conclusion

Aave price analysis for today indicates the cryptocurrency has been on a bearish trend before the bulls came in later in the day to push the prices higher. Bulls need to put some more pressure this week to potentially reclaim the $180.00 resistance level or experience some consolidation before testing that price area again. On the other hand, bears are looking for an opportunity to reclaim control of Aave prices and push on towards lower support levels at $160.00 or below. At $175.0, it remains the key resistance level to watch this week.

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.
joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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