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Aave price analysis: Price faces depreciation up to $87.21 after a bearish return

Aave price analysis
TL;DR Breakdown
  • Aave price analysis is bearish today
  • Aave price is facing resistance at $89.54
  • Support for AAVE/USD is present at $86.88

Aave price analysis indicates that the AAVE/USD pair is bearish today. After a period of consolidation above the $86.88 level, the price has started to dip and is currently trading at $87.21. The bears have taken control of the market and are likely to push the price lower in the near term. The main support level for the AAVE/USD pair is present at $86.88. If the price breaks below this level, it could fall to $86.50 in the short term. Resistance for AAVE/USD is present at $89.54. If the price break above this level, it could start an uptrend and rise to $90.00 in the near term.

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AAVE/USD 1-day price chart: Bears are in control as Aave prices fail to breakout

On the 1-day chart for Aave price analysis, we can see that the price has been consolidating between the $86.88 and $89.54 levels. The AAVE/USD pair has decreased slightly in the past 24 hours and is still down by 0.08 percent which is a bearish sign.

image 65
AAVE/USD 1-day price chart, Source: TradingView

The price is trading below the 50-day moving average and the 200-day moving average, which indicates that the bears are in control of the market. The RSI indicator is also trading in the bearish territory as it has dipped below the 50 levels. The Moving Average Convergence Divergence indicator is also giving a sell signal as the MACD line has crossed below the signal line.

AAVE/USD four-hour price analysis chart: Recent developments and further technical indications

On the 4-hour chart for Aave price analysis, Bears are trying to push the prices lower as they have taken control of the market. There are signs that the bulls are losing their grip as the price has failed to break out of the $89.54 resistance level.

image 66
AAVE/USD 4-hour price chart, source: TradingView

The 4-hour chart also shows that the Relative Strength Index indicator is currently at 46.48 and is slowly moving towards the oversold territory. The MACD indicator is also giving a sell signal as the MACD line is moving below the signal line. The 50-day moving average is at $88.13 and the 200-day moving average is at $89.54, which are both bearish indicators.

Aave price analysis conclusion

In conclusion, Aave’s price analysis for today is bearish as the price is trading below the $87.21 level. The bears are in control of the market and are likely to push the price lower in the near term. From the technical indicators, it seems like the bears are in control of the market, and AAVE prices could continue to fall in the near term.

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.
joel

joel

Joel is a Blockchain enthusiast who has been active in the blockchain sector since 2016. He enjoys talking about blockchain and its implications for the future of humanity.He loves content and creating features on cryptocurrency.

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