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Aave price analysis: Bearish trend pulls AAVE to $72.25 low

Aave price analysis
TL;DR Breakdown
  • The Aave price analysis shows a bearish trend today
  • The resistance for AAVE/USD is present at $73.01
  • Support for AAVE/USD is found at $71.33

The Aave price analysis is directing that the cryptocurrency has undergone loss once again during the last 24 hours. That is because the bears are once again powering through after a small bullish interruption. The bears have caused a decrease in the price up to the $72.25 level and have been able to retain their position as the leading party. More sellers are causing the price to downgrade further and have defeated the buyers in their attempt at revival. 

The Aave prices have found some support around $71.33 but it remains to be seen if this will be enough to turn the tide in favor of the bulls. For now, the bears are in control of the Aave markets and may continue to push prices lower in the near term.

AAVE/USD 1-day price chart: Bears overcome Bullish efforts to stimulate a downward trend

The one-day Aave price analysis is dictating that a drop in the Aave price value has taken place today. There has been a short bullish interval observed in the last few hours as well, as a green candlestick was seen in between highly bearish days. The bears have been mostly at the lead throughout, and they are still succeeding in maintaining it as the price has gone down to $72.25 at the moment.

image 162
AAVE/USD daily chart, source: TradingView

The moving average indicator (MA) is present at the $32.13 level, and the exponential moving average (EMA) is placed at the $32.24 level. The Relative Strength Index (RSI) indicator is currently at the 47.23 level, which indicates that the market conditions are bearish and prices may continue to decline in the near term.

Aave price analysis: Recent developments and further technical indications

The 4-hour Aave price analysis shows that the price is going down again after a brief escape. The bears are pulling down the price levels, and currently, they have reached the $72.25 level. The moving average is still above the current price, i.e., at $72.17, because of the bearish trend that followed in the past weeks. The short-term trending line is once again traveling downwards, which is a major bearish signal.

image 163
AAVE/USD 4-hour chart, source: TradingView

The exponential moving average (EMA) in a 4-hour timeframe is placed at the $72.39 level which is near the current market price, indicating that bearish pressure is still present in the market. The RSI curve is headed downwards at an index of 32.72, as the bearish pressure seems immense.

Aave price analysis conclusion

Aave price analysis is reporting that a bearish activity has occurred today as well. The price levels have moved down to $72.25, which has been a significant loss for cryptocurrency market value. Although the bulls tried to make a comeback in the past few hours, their efforts have gone in vain as the price has experienced a decline today. Price levels can be preserved only if the support is retained at the $71.33 level.

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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