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Aave price analysis: AAVE/USD holds above $85.05 amid a bearish run

Aave price analysis
TL;DR Breakdown
  • Aave price analysis is bearish today
  • Aave price is facing resistance at $93.13
  • Support for AAVE/USD is present at $84.69

Aave price analysis indicates that the AAVE/USD pair is bearish today. After a period of consolidation above the $84.69 level, the price has started to dip and is currently trading at $85.05. 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 $84.69. If the price breaks below this level, it could fall to $84.00 in the short term. Resistance for AAVE/USD is present at $93.13. If the price break above this level, it could start an uptrend and rise to $93.50 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 $84.69 and $93.50 levels. The bears have taken control of the market today as the price has started to dip below the $85.05 level. The AAVE/USD pair has decreased slightly in the past 24 hours and is still down by 8.71 percent which is a bearish sign.

image 168
AAVE/USD 24-hour price chart, source: TradingView

The RSI indicator is also trading in the bearish territory as it has dipped below the 50 levels and it is currently at 48.65. The Bollinger Bands are also expanding which is a bearish sign. 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, we can see that the price has dipped below the $84.69 support level and is currently trading at $85.05. The bears are in control of the market as they have been able to push the price below the key support level.

image 169
AAVE/USD 4-hour price chart, source: TradingView

The 4-hour chart also shows that the Relative Strength Index indicator is currently below the 50 levels, which indicates that the bears are in control of the market. The MACD indicator is also giving a sell signal as the MACD line is moving below the signal line. The upper Bollinger band is also contracting, which is a bearish sign and it is currently trading at $85.57. while the lower Bollinger band is at $84.21.

Aave price analysis conclusion

In conclusion, Aave’s price analysis for today is bearish as the price is trading below the $85.05 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.
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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