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Aave price analysis: AAVE increases value by 3.5% after strong bullish movement

Aave price analysis: AAVE increases value by 3.5% after strong bullish movement
TL;DR Breakdown
  • Aave price analysis is bullish today.
  • The strongest resistance is present at $105.6.
  • The strongest support is present at $95.6.

Aave price analysis reveals the cryptocurrency 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 $104 mark and reached $104.13 on August 7, 2022, before crashing to $103.3, which further devalued the price.

On August 7, 2022, AAVE regained positive momentum and attained some of its lost value. Gradually increasing, the price reached $103.3, which is the current trading price for AAVE. Aave has been up 3.5% in the last 24 hours, with a trading volume of $133,126,636. AAVE currently ranks at #44 with a live market cap of $1,440,623,208.

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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 $104.6, serving as AAVE’s strongest resistance. Conversely, the lower limit of the Bollinger’s band is available at $95.6, 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 56
AAVE/USD 4-hour price chart Source: TradingView

The Relative Strength Index (RSI) is 60, 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 an increasing trend, showing significant signs of falling on the versatile side, as the cryptocurrency shows potential for volatile change. Therefore, the Aave prices subject to fluctuations will be more likely to experience volatile change. The upper limit of the Bollinger’s band exists at $105.6, which acts as the strongest resistance for AAVE. Conversely, the lower limit of the Bollinger’s band is available at $82.7, representing the strongest support for AAVE.

The AAVE/USD price crosses over the Moving Average curve, indicating a bullish trend. The market remains bullish, with increasing volatility showing further room for positive movement; moreover, the market is more 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 57
AAVE/USD 1-day price chart Source: TradingView

Aave price analysis reveals that the Relative Strength Index (RSI) is 61, meaning that the cryptocurrency shows some inflation. The cryptocurrency currently falls above the upper neutral region. The RSI follows an upward movement that reflects an increasing market trend and activity towards further value increments.

Aave Price Analysis Conclusion

Aave price analysis concludes that the cryptocurrency follows a complete positive trend. The price reached $104.13 on August 7, 2022; however, the price has been struggling at the $104 mark now. The current price of Aave is $103.3. The cryptocurrency is showing signs of increments.

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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