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Aave price analysis: AAVE crashes by 10% in the last 24 hours

Aave price analysis: AAVE crashes by 10% in the last 24 hours
TL;DR Breakdown
  • Aave price analysis is bearish today.
  • The strongest resistance is present at $81.
  •  The strongest support is present at $58.

Aave price analysis reveals the cryptocurrency to be following a declining trend, where significant devaluation has been occurring for the past few days. The price of AAVE/USD had reached the $64 mark on June 28, 2022, before declining to $60 on the same day. The price suffered a flash crash the next day, which further devalued the price. As a result, the price went from $61 to the $58 mark.

The current trading price for AAVE is $59.5. Aave has been down 11.71% in the last 24 hours, with a trading volume of $137,799,822. AAVE has a live market cap of $835,713,730 and a circulating supply of 16,000,000 AAVE coins. AAVE currently ranks #52 in the cryptocurrency rankings.

AAVE/USD 4-hour price analysis: Latest developments

The Aave price analysis has revealed the market volatility to be massive and following a declining trend, making the price of the cryptocurrency less exposed to experiencing variable change on either extreme. The Bollinger’s band’s upper limit is $77, which serves as the strongest resistance for AAVE. Conversely, the lower limit of the Bollinger’s band is available at $58, representing AAVE’s strongest support.

The AAVE/USD price appears to be crossing under the curve of the Moving Average, indicating a bearish trend. Bears have dominated the market for a while, and now that the volatility is decreasing, they could completely engulf the market. However, the price seems to follow a downward movement after breaking the support yesterday. It seems the market has reversal tendencies.

image 396
AAVE/USD 4-hour price chart source: TradingView

Aave price analysis reveals the Relative Strength Index (RSI) to be 36, and this value indicates a relatively undervalued cryptocurrency, falling in the lower neutral region. Furthermore, the RSI path appears to be following a downward approach which shows that the cryptocurrency shows declining signs of being further devalued or being devalued, for that matter.

Aave price analysis for 1-day

Aave price analysis shows market volatility following a decreasing trend. Although the market’s volatility is minute, it seems to be following further depreciation. This means that the Aave prices subject to fluctuations will move with the volatility and become less susceptible to volatile change. The upper limit of the Bollinger’s band exists at $81, which acts as the strongest resistance for AAVE. Conversely, the lower limit of the Bollinger’s band is available at $47, representing the strongest support for AAVE.

AAVE/USD price appears to be crossing under the Moving Average curve, indicating a strong bearish trend. The market remains bearish, with massive volatility. We can observe the AAVE/USD price path following a downwards movement.

image 397
AAVE/USD 1-day price chart source: TradingView

Aave price analysis reveals that the Relative Strength Index (RSI) is 38, meaning that the cryptocurrency is devalued. The RSI can be seen following a linear movement that reflects a constant market trend and small chances of a reversal.

Aave Price Analysis Conclusion

Aave price analysis concludes that the cryptocurrency follows a definite bearish trend. The price reached $64 on June 28, 2022; however, the price has been struggling even to the $60 mark now. The price has been on a decline ever since then. The current price of Aave is $59. The cryptocurrency is suffering from severe devaluation. The bears have gripped the market and are not keen on letting go quickly.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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