Aave price analysis: Price slumps down to $83.47 as bearish trend continues

Aave price analysis

TL;DR Breakdown

  • Aave price analysis is bearish today
  • Support for AAVE/USD is present at $82.78
  • Aave price is facing resistance at $86.68

The Aave price analysis is going through a loss as the price underwent a decline up to $83.47 today. The downtrend has been quite constant since yesterday, and even today, the price has followed a downward movement. The reversal in trends had been quite unexpected as the bulls were leading previously. Nonetheless, the bears have taken charge once again, and the price has been devalued.

AAVE/USD 1-day price chart: Bearish swing deflates price levels to $83.47

The bearish momentum has been intensifying according to the one-day Aave price analysis. The price has been downgraded to $83.47as a result of the constant downflow. The past few days have been quite discouraging for the cryptocurrency as a strong bearish trend was going on. Similar trends have been reported during the last 24-hours as well. The price has gone below the moving average (MA) value as well, which is standing at $84.23.

image 442
Source: TradingView

The volatility is increasing, which means that the downswing might last for the coming hours as well. If we discuss the Bollinger bands Indicator, then its upper value is at $86.68, and the lower one is at the $82.78 position. The Relative Strength Index (RSI) score has been lowered to58.34 as well.

Aave price analysis: Bearish depression results in a collapse below $86.68

The 4-hour Aave price analysis is showing signs of bearish momentum as the price decreased quite significantly. The price has been declining consistently as the cryptocurrency is showing a downward tendency. A reduction in price has been recorded in the last four hours as well as the price levels moved down to $83.47. Moving on, the moving average indicator shows its value at $84.25 at the time of writing.

image 443
Source: TradingView

The volatility has increased because of the bearish slope, and the Bollinger bands are expanding. The upper Bollinger band is standing at $86.63, the lower Bollinger band is at $82.75, while the overall average is being maintained at $84.69. The RSI score dropped drastically to 52.66 as well, quite near the undersold zone. The moving averages indicator is giving out a strong bearish signal as the price levels have been dropping for the past four hours.

Aave price analysis conclusion

The one-day, as well as the four hours Aave price analysis, predicts that a downtrend has been following for the past few hours. The bears are leading the game at the moment, and the price levels have been brought down to $83.47 as a consequence. A further downfall can be expected as the bears have been dominating for the past few hours as well. The price has been persistently moving down, which means that chances of improvement for the bulls are still on the limited side.

Ann Mugoiri

Ann Mugoiri

Ann likes to write about crypto and blockchain technology. She has been following the development of these technologies for a few years and believes that they have the potential to disrupt many industries.She has specialized in technical analysis to help cryptocurrency traders make more informed decisions.

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