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Aave price analysis: AAVE remains in a clear uptrend, prepares to test $120

Aave price analysis
TL;DR Breakdown
  • Aave price analysis shows a bullish market trend
  • The prices are currently trading above $115
  • AAVE prices are facing rejection at the $120.0 level
image 16
Cryptocurrencies price heatmap, Source: Coin360

Aave price analysis reveals the cryptocurrency has had a bullish run in the last few hours and the prices are looking to test the $120.0 level. The market opened the daily trading session at $115.0 and the prices started to move higher. The bulls took control of the market and pushed the prices towards the $115.89 level. However, the prices are facing a strong rejection at the $120.0 level. The next major support is seen at the $118.0 level and below that, the prices are likely to test the $115.0 level.

Aave price analysis indicates AAVE prices have been trading in a range-bound of between $112.51 to $119.21 in the last 24 hours, recording a price spike of 0,53 percent. The current trading volume for AAVE is at $284,497,818.50 and the total market capitalization for AAVE is at $1,615,057,469.36.The digital asset is currently ranked in position 42 overall and has a market dominance of 0.13 percent.AAVE’s general market is seen to be quite bullish.

Aave price analysis: Technical analysis

Aave price analysis shows the current market sentiment for AAVE is bullish as the market is currently in an uptrend. The short-term moving averages are all bullish and are showing a strong buying momentum in the market. The MACD indicator is also in the positive territory, indicating that the bulls are in control of the market.

The key support levels to watch out for are at $118.0 and $115.0 while the key resistance levels are seen at $120.0 and $122.0.The Bollinger bands in the daily chart are signaling a possible breakout to the upside as the prices are currently trading near the upper band. The upper band is seen to be at $119.90 while the lower band is seen at $114.70.he market volatility is likely to be very high as the market dynamics change.

image 14
AAVE/USD1-day price chart, source: TradingView

The RSI indicator is currently in the overbought territory, indicating that the prices might see a corrective pullback in the near term. The green histograms in the momentum indicator are also indicating a bullish market trend.

Aave price analysis on a 4-hour chart: Bulls remain in control, prepare to test the $120.0 level

The 4-hour chart for AAVE shows that the prices have been on a steady uptrend in the last few hours and the market is preparing to test the $120.0 level. The prices are currently trading near the upper Bollinger band, indicating a possible breakout to the upside. The Bollinger bands are starting to widen, indicating that the market is likely to see high volatility in the near term.

image 13
AAVE/USD 4-hour price chart, source: TradingView

Aave price analysis on a 4-hour price chart shows AAVE/USD is in a clear uptrend as the prices are trading well above the moving averages. The 20 EMA is currently at $114.48 while the 50 EMA is seen at $112.78.The MACD indicator is in the positive territory and is showing a strong buying momentum in the market. The RSI indicator is also in the overbought territory, indicating that the prices might see a corrective pullback in the near term. The key support levels to watch out for are at $118.0 and $115.0 while the key resistance levels are seen at $120.0 and $122.0.

Aave price analysis conclusion

Aave price analysis shows that the market is in a clear uptrend and is currently trading near the $120.0 level. The market is expected to see high volatility in the near term as the prices are preparing to test the $120.00 resistance level. On the downside, if the prices break below the $118.0 support, we might see a sell-off towards the $115.0 level.

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.

Editah Patrick

Editah Patrick

Editah is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates her, she finds the intersection of both technology and finance mind-blowing. Her particular interest in digital wallets and blockchain aids her audience.

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