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Aave price analysis: Bullish trend marks price movement above $112

Aave price analysis: Bullish trend marks price movement above $112
TL;DR Breakdown
  • The Aave price analysis shows bullish price action.
  • Strong resistance is present at $115.
  • Support for AAVE is present at $105.6.

The most recent Aave price analysis confirms an increasing trend for cryptocurrency as the coin value has increased today. Earlier the market value of the cryptocurrency sunk yesterday as a correction seemingly took over the market. But the price function followed a bullish movement from the start of today’s trading session, and now the price is trading at $112.5 after a small recovery. Chances of slow bullish growth are there, and the bearish resistance is still present as well.

AAVE/USD 1-day price chart: Bulls successful in making a comeback

The one-day Aave price analysis confirms a bullish trend for today as the coin value has undergone a considerable improvement. Though the coin value suffered previously, today, the effort from the buyers’ side remained commendable and persistent as the price action has been upwards and the price trend line is moving ascendingly. The circumstances are in support of the bulls as the price covered an upward movement up to $112.5 high, though still at a loss of 0.99 percent due to yesterday’s negative price movement; overall, the coin has gained more than 12 percent value over the past week.

aave 1 day
AAVE/USD 1-day price chart. Source: TradingView

The moving average (MA) score, which is currently $106.3, is still higher than the SMA 50 curve. The volatility in the one-day price chart is comparatively high, with the upper Bollinger band at $115.8 high representing the strongest resistance for the crypto pair, and the lower Bollinger band at $84.8 representing the strongest support for AAVE/USD. The Relative Strength Index (RSI) score after today’s improvement has reached index 62 and will continue to improve further if the buying activity continues in the market.

Aave price analysis: Recent developments and further technical indications

The 4-hour Aave price analysis favors the bullish side as a strong rise in AAVE/USD value was detected in the past few hours. The bulls have been dedicated to rewin their leading position over the market, and so far, their progress has been fascinating. The price experienced a rise to $112.5 in the last four hours because of the bullish trend. Overall the price action has been headed upwards for the last 12 hours.

aave 4 hour
AAVE/USD 4-hours price chart. Source: TradingView

At the same time, the moving average is trading at $112.2, just below the price level. As price oscillations were comparatively low, the Bollinger bands indicator converged yesterday as it shows the following values in the hourly price chart now; the upper value is $115.2, whereas the lower value is $106.5, and the price has also recovered above the MA value as mention earlier. The RSI score has enhanced up to index 59 because of the uptrend.

Aave price analysis conclusion

The bulls are controlling the market today; as confirmed from the above one-day and four-hour Aave price analysis, the increase in the price level has been supporting the idea of a bullish trend. And a bullish wave dominated the market today, and the AAVE/USD price has increased up to $112.5. The bullish current may intensify in the coming hours if buying activity gains momentum. On the other hand, an hourly correction is also possible as the upwards curve of the RSI is not very steep.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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