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Aave price analysis: Bullish momentum breaks past $87.80 in terrific fashion

Aave price analysis
TL;DR Breakdown
  • Aave price analysis is bullish today
  • Support for AAVE/USD is present at $82.32
  • Aave price is facing resistance at $88.94

The recent price action in Aave price analysis indicates that the altcoin is still enjoying bullish momentum. Aave price analysis for today shows that the coin has started the day on a strong note, with buyers pushing the price above $87.80 in terrific fashion. The market has been on a tear over the last few days as the bulls seem to be in no mood to let go of their grip on the market.

The AAVE/USD price has gained over 3.70 percent in the last 24 hours and is currently trading at $88.74. The coin has a market capitalization of $1.22 billion, and it is ranked 17th on CoinMarketCap. The 24-hour trading volume of the coin is $126.81 million.

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Aave price analysis for 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.

image 97
AAVE/USD 1-day price chart, Source: TradingView

The moving average (MA) score, which is currently $84.05, is quite supportive and buyers are trying to maintain the price around this level. The volatility in the one-day price chart is comparatively high, with the upper Bollinger band at $88.94 and the lower Bollinger band at $82.32. 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 /USD 4-hour price chart: cryptocurrency surpasses hurdles to reach $87.80

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 $87.80 in the last four hours because of the bullish trend. Overall the price action has been headed upwards for the last 12 hours.

image 98
AAVE/USD 4-hour price chart, Source: TradingView

At the same time, the moving average is trading at $85.69, just above the current market value, which indicates that the short-term bullish trend is likely to continue in the market. The Bollinger bands have been quite volatile as of late with the upper Bollinger band and the lower Bollinger band at are widening. The RSI indicator is currently at 63 and is climbing higher, which denotes that the buying activity is likely to continue in the market.

Aave price analysis conclusion

Aave price analysis concludes that AAVE prices are currently trading in a bullish manner and are likely to move higher in the near term as the bulls remain in control of the market. However, the bears are also starting to show some signs of life and a breakout above the $88.94 resistance level will be needed to confirm the continuation of the uptrend.

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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