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Aave Price Analysis: AAVE finds support at $320, consolidation to follow?

ENJUSD price

TL;DR Breakdown

  • Aave price analysis is bullish today.
  • AAVE/USD rallied to $320 support in the morning.
  • Closest resistance at $327

Today, the Aave price analysis is Bullish because yesterday’s support level of $290 was broken, resulting in a reaction higher today. As a result, we anticipate that AAVE/USD will continue to rise over the next 24 hours.Aave Price Analysis: AAVE finds support at $320, consolidation to follow? 1

Cryptocurrency Heatmap by Coin360

According to the Coin360 cryptocurrency heatmap, the overall market is trading in the red zone with Bitcoin shedding 2.92 percent and Ethereum dropping by 0.34 percent. The best performer of the day is Solana after it crossed the $200 psychological support. 

Aave price movement in the last 24 hours: Aave finds support at $320, tests upside

The price of AAVE/USD fluctuated within a range of $314 to $326.58 throughout the trading session, implying little market volatility during the last 24 hours. Trading volume was $167 million, down 14.26 percent from yesterday’s volume of $178 million. The market capitalization stands at roughly $3.93 billion.

AAVE/USD 4-hour chart: AAVE looking to set a higher low above $325?

On the 4-hour chart, we can see Aave price movement reacting from the $290 support, most likely leading to more upside over the next 24 hours.Aave Price Analysis: AAVE finds support at $320, consolidation to follow? 2

AAVE/USD 4-hour chart. Source: TradingView

In October, the price of Aave has been trading in a narrow range. At the start of the month, a rally to $325, where a higher high was established, defined the upper limit of the trading range.

On October 8, another attempt to rise above $325 was seen, following a retracement and consolidation below $310. The rally was followed by a strong retreat back down to $270.

The Aave price moved higher from its January low of $285, gradually reaching a slightly lower high at around $320. The market has since retraced to around $290, where a new high is anticipated, suggesting that AAVE/USD will continue to rise later this week.

Aave Price Analysis: Conclusion 

The Aave price analysis is optimistic today, as a new higher low was established today at $314. We anticipate AAVE/USD to rise further over the next 24 hours.

While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

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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