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Aave price analysis: AAVE gains positive momentum towards $56.3

Aave price analysis: AAVE gains positive momentum towards $56.3
TL;DR Breakdown
  • Aave price analysis is bearish today.
  • The strongest resistance is present at $77.22.
  • The strongest support is present at $52.9.

Aave price analysis reveals the cryptocurrency to be following a solid positive movement where significant increments in the price of the cryptocurrency have been observed. For example, the cost of AAVE/USD had crossed the $58 mark and reached $58.6 on July 1, 2022; before crashing to $55.2, the price suffered a flash crash on the same day, which further devalued the price.

On July 2, 2022, AAVE regained positive momentum and attained some of its lost value. Gradually increasing, the price reached $56.3, which is the current trading price for AAVE. Aave has been up 0.93% in the last 24 hours, with a trading volume of $102,036,182. AAVE currently ranks at #50 with a live market cap of $781,440,719.

AAVE/USD 4-hour price analysis: Latest developments

Aave price analysis has revealed the market volatility following a decreasing trend, making the cryptocurrency’s price more exposed to experiencing variable change on either extreme. The Bollinger’s band’s upper limit is $60.8, which serves as the strongest resistance for AAVE. Conversely, the lower limit of the Bollinger’s band is available at $52.9, representing AAVE’s strongest support.

The AAVE/USD price appears to be crossing over the curve of the Moving Average, indicating a bullish market trend. The market has seen a strong bullish movement in the last few hours with minor fluctuations towards the bearish zone. However, the market seems downright bullish now and will likely continue its activity. In addition, the price seems to move in an upward direction, indicating increasing behavior.

image 16
AAVE/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 42, and this value indicates a stable cryptocurrency. However, the RSI path appears to follow a slightly upwards direction, which shows that the cryptocurrency shows signs of further increments. The RSI score increase is a sign that the buying activity is dominant in the market.

Aave price analysis for 1-day

Aave price analysis shows market volatility following a decreasing trend, showing significant signs of falling on the consistent side, as the cryptocurrency remains resistant to volatile change. Therefore, the Aave prices subject to fluctuations will be less likely to experience volatile change. The upper limit of the Bollinger’s band exists at $72.22, which acts as the strongest resistance for AAVE. Conversely, the lower limit of the Bollinger’s band is available at $50.2, representing the strongest support for AAVE.

The AAVE/USD price crosses under the Moving Average curve, indicating a bearish trend. The market remains bearish, with decreasing volatility showing consistent behavior maintaining the movement; moreover, the market is less susceptible to change now. We can observe the AAVE/USD price path following an upwards direction towards the resistance. The two might soon meet and cause a breakout in the market, leading to a reversal.

image 17
AAVE/USD 1-day price chart source: TradingView

Aave price analysis reveals that the Relative Strength Index (RSI) is 36, meaning that the cryptocurrency shows some devaluation. The cryptocurrency currently falls devaluation region. The RSI follows a downward movement that reflects a decreasing market trend and activity towards further devaluation.

Aave Price Analysis Conclusion

Aave price analysis concludes that the cryptocurrency follows a bearish trend. The price reached $58.7, on July 2, 2022; however, the price has been struggling at the $56 mark now. The current price of Aave is $56.3. The cryptocurrency is showing signs of consistency. The market is currently following a bearish trend.

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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