- The Aave price analysis is bearish today.
- Resistance is present at $252.
- AAVE/USD is presently at $226.
The Aave price analysis shows that today’s AAVE/USD price drop has negatively influenced the overall coin value. After a bearish trend, the price was reduced to $238 value. Although a continuous rise in value was observed two weeks ago, today’s movement has favored the bears. In the next several hours, selling pressure will intensify dramatically.
Aave/USD price has attained a strong resistance at $252, and it looks like this is just the beginning of selling pressure. Currently, few positive signs are presenting in the market, which supports the fact that coin is reaching out for the $237 mark, where it may attain temporary stability before continuing further downtrend.
On the downside, important support levels can be found at $220 and $210. The Aave price prediction will become clearer in the coming hours when we know how bears will affect soon and if bulls break the $252 value or not.
The Aave price analysis reveals a bearish trend in the short-term value of the coin, and bulls are struggling to hold ground for now. However, chances of bears getting exhausted soon, so we can expect some recovery prices soon, if not now.
AAVE/USD four-hour price analysis: Recent developments
The price has recovered from its losses over the previous several hours, and the bearish momentum in the market has continued. In the last four hours, a steep drop in price was observed, with the volume of trading activity has decreased significantly. Bears are taking advantage of the volatility in the market, and it will be likely that AAVE/USD price could pass the $232 level to test support at $230.
The technical indicators reveal that bears are placing more emphasis on their side while bulls are struggling to gain strength, although there is no strong selling pressure at present.
AAVE/USD four-hour price analysis suggests that an uptrend has been found between $246 -$247, but it couldn’t reach its resistance; instead, it was pulled down by sellers who made it come back to the equilibrium value. Now the coin is moving towards its equilibrium value again, which may be somewhere around here or a bit higher or lower from this point.
The trend has proved to be persistent as it is constantly trying to climb up moving average but failing to do so, which can be a bad sign for bulls.
On the upside, a major resistance level is around $252, and any strong surge above this mark will most likely result in a price rally toward $260 -$263 levels. Bears have managed to push the current value down from its highs with ease, but they could not shore up prices at lower ranges.
The bearish spell has knocked the price level down below the lower Bollinger band, $239. The present increase in volatility suggests that the price will touch further depths in the coming hours as volatility increases once again. As a result, the upper Bollinger band has been pushed to position 28. After its fall in value, the RSI curve has flattened.
The AAVE/USD technical indicators chart shows a strong bearish signal for the day. We can observe three buying indicators, nine neutral ones, and 14 selling indicators out of a total of 26 available technical indicators.
Aave Price Analysis: Conclusion
The bearish trend appears to have remained in force since yesterday, and the strength has grown as a severe price drop was observed recently. We forecast that the price will continue to fall for the next 12 hours because both the daily and hourly price charts indicate a downtrend.
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