- Coin value has been reduced to $142.
- AAVE price analysis shows downtrend.
- Support is still standing at $122.02.
The latest AAVE price analysis confirms a downward trend for the day, as the bears have occupied the leading position even today. The price went down to a drastic limit in the past two weeks, as the bears dominated the market. A similar trend was observed during the day, where the price moved down to $141.66 due to overwhelming selling pressure. Further downfall in AAVE/USD value is expected if the current trend continues in the future.
AAVE/USD 1-day price chart: Bears drive price back to $141.66 low after latest strike
The one-day AAVE price analysis gives a negative hint regarding the current price trends. The bears seem to be taking over the market, and a significant drop in AAVE/USD value was observed throughout the last 24-hours. The selling activity is evidently on the rise, and a further drop in cryptocurrency’s value will follow soon. The price is now standing lower than its moving average (MA) value, i.e., $156.93.
The area between the Bollinger bands is expanding, which means there is a high chance that the current bearish wave will extend during the coming week. The upper edge of the Bollinger bands indicator shows the value of $261.81, whereas its lower edge displays $122.02 of value. The Relative Strength Index (RSI) graph shows a descending curve as the score dropped down to 30.88 today.
AAVE price analysis: Cryptocurrency value steps up to $142 after recovery
The hourly price prediction for AAVE/USD is going in the bullish direction, as the bulls secured a small win in the last four hours. There have been constant variations in the market trends for the previous hours, and currently, the bulls seem to be gaining the upper hand. The AAVE/USD value rose to $141.65 in the last four hours as more buying activity was recorded. The price is still low compared to its moving average value, i.e., $144.48.
A crossover between the SMA 50 curve and the SMA 20 curve was recorded earlier, but now the situation is clearing up for the bulls. The upper Bollinger band is resting at the $159.11 position, whereas the lower Bollinger band is settling at the $137.76 position. Lastly, the RSI graph shows a slight improvement in the score, i.e., 40.32.
Over the past few weeks, the market trends for AAVE/USD have been relatively on the bearish side. This is being further indicated by the technical indicators chart, which displays a selling signal. Fifteen indicators are currently standing on the selling position; nine are neutral, whereas only two are buying.
If we move on towards the Moving Averages Indicator, it is giving out a favorable signal for the sellers. A total of 13 indicators stand on the selling mark, whereas one indicator each stands on the neutral and buying points. The Oscillators hint at a neutral trend for the day as two indicators are on the selling position; eight indicators are on the neutral while only one indicator is on the buying one.
AAVE price analysis conclusion
The above one-day and four-hour AAVE price analysis shows a considerable decline in today’s coin value. A series of red candlesticks are marking the price chart, indicating a continuous bearish trend. Today, the coin value was decreased up to the $141.66 limit, and most expectedly, the further loss is to be encountered by the cryptocurrency in the upcoming week as well.
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