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Aave price analysis: AAVE prices hold at $86.73 as buyers eye a move above $89.00

Aave price analysis
TL;DR Breakdown
  • Aave price analysis is bullish today
  • The strongest resistance is present at $89.74
  • The strongest support is present at $81.81

Aave price analysis shows that the digital asset has found stability at $86.73 after receiving a bullish push from the market. The cryptocurrency is currently trading above the $86.00 level, and it looks like it is preparing for another leg up in the near future. The next resistance level to watch out for is $89.74. On the downside, the strongest support levels are $81.81.

The market capitalization for AAVE/USD is currently $1.22 billion. The 24-hour trading volume is $130 million. The digital asset has been on a bull run since the beginning of today, and it looks like the uptrend is set to continue in the near future. Aave has outperformed most of its competitors in the market, and it is currently one of the best-performing cryptocurrencies.

AAVE/USD 4-hour price analysis: Price returns to $86.73, increasing chances for recovery

Aave price analysis indicates that market volatility follows an increasing trend, making Aave prices more vulnerable to volatile changes on either extreme. The Bollinger’s band’s upper limit is at $88.28, while the lower limit is at $81.81, with a middle line at $86.70. The AAVE/USD price appears to be crossing over the curve of the Moving Average, signifying a bullish trend. Furthermore, the AAVE/USD price path is moving upwards, attempting to cross the resistance, indicating bullish potential and reversal opportunities.

image 341
AAVE/USD 4-hour price chart, source: Tradingview

The RSI indicator is currently at 61.33 and meaning that the AAVE/USD is stable and falls in the upper-neutral region. The RSI score appears to be following an upward movement signifying an increasing market trend toward further positive dynamics. The RSI score increases because of the dominant buying activity.

Aave price analysis for 1 day: Cryptocurrency follows an uptrend as price trails past $86.73

The 24-hour chart for Aave price analysis shows that the cryptocurrency is in an uptrend as it has broken past the resistance at $86.73. The bulls have been reigning the price chart for the past few hours, and the price has undergone a sufficient improvement. The green candlestick is indicative of an upward trend as the buying momentum intensifies.

image 340
AAVE/USD 24-hour price chart, source: Tradingview

The Bollinger bands are currently squeezed, which is an indication of low volatility. The price is currently trading close to the middle line, which is a sign of stability. The Moving averages are above the candlestick bodies, which is a bullish sign. The RSI indicator is currently at 52.42, and it is in the upper-neutral region.

Aave price analysis conclusion

To sum up our today’s Aave price analysis, The market is currently in a consolidation phase below $89.74. However, the bulls are in control of the market as they push the prices higher. The next level of resistance is at $89.74, and if the bulls manage to break past this level, we can expect the price to rally toward the $90 resistance level. On the downside, the support levels are at $81.81, and breaking below this level could see the price retrace toward $81.50.

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.
Derrick Clinton

Derrick Clinton

Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.

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