Aave price analysis: AAVE/USD gains bullish momentum at $79.04

Aave price analysis

TL;DR Breakdown

  • Aave price analysis shows an uptrend
  • Resistance for AAVE is present at $81.31
  • Support is present at the $67.72 level

Aave price analysis shows the bulls have set a firm uptrend as prices spike by 12.79 percent in the last 24 hours. The resistance for AAVE prices is present at $ 81.31 while strong support is seen at the $67.72 level. Aave has had a trading volume of $462,235,577 and a market cap of $1,100,297,765 in the last 24 hours. AAVE is currently dominating the cryptocurrency market and has a market dominance of 2.37 percent.

The bulls were able to push the prices from a low of $78.95 to a high of $79.04 in a matter of hours. The market then corrected lower as the prices found support at the $67.72 level. The bulls have since regained control and are pushing the prices higher. The next level of resistance is seen at the $81.31 level and breaking above this level could see prices move higher towards the $85.00 level.

AAVE/USD 1-day price chart: uptrend causes price rise up to $79.04

The market for Aave price analysis has seen some consolidation in the past week as prices have been fluctuating between the $67.72 and $78.95 levels. The current price surge has taken the prices to the upper limit of the consolidation range and a further move up may take place in the near term as the price is currently trading at the $79.04 mark.

image 127
AAVE/USD 1-day price chart, source: TradingView

The 1-day technical indicator for the Aave market shows an uptrend as the MACD line is trading above the signal line. The RSI indicator is currently trading at 60.92 and is showing no signs of overbought or oversold conditions. The 50-day simple moving average is providing support for the market at the $66.33 level while the 200-day simple moving average is providing resistance for the market at the $84.21 level.

AAVE/USD on a 4-hour price chart: Bulls in control of the market

Aave price analysis on the 4-hour chart, AAVE/USD is seen trading inside an ascending parallel channel as prices corrected lower after hitting the upper limit of the channel. The current move can be considered a retracement as the prices are still trading inside the bullish channel.

image 128
AAVE/USD 4-hour price chart, source: TradingView

The RSI curve is currently trading at 48.65 and is not providing any clear indication as to the direction of the market. The MACD indicator is also trading close to the zero line which shows that there is no clear trend in the market at the moment. The 50-day SMA and the 200-day SMA are moving close to each other which is a sign of further consolidation in the market.

Aave price analysis conclusion

Aave price analysis shows that AAVE’s price is expected to continue its upward move as the bulls remain in control of the market. The next target for the bulls is seen at $81.31 and a further move above this level may take prices towards the $82 level. However, if the prices are correct lower from the current levels, strong support is seen at $67.72 and a further move below this level may take prices towards the $65 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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