Aave price analysis shows the coin is facing trouble after reaching $82.72, as bears are trying to pull the price back downwards. Still, AAVE is in a comparatively better position as most of the market is bearish today, However, chances are there for AAVE to turn bearish completely if the recently forming bearish momentum continues.
The next support for AAVE is present at $78.53; if the downtrend extends, then this support may go under test. On the contrary, resistance is present at $90.26, and breaking through that level could push AAVE towards healthier levels.
AAVE/USD 1-day price chart: Bears almost canceling out bullish gains
The 1-day Aave price analysis shows bears have nulled out most of the bullish gains made at the start of the trading session, as the green candlestick observed yesterday has now turned into a slight red candlestick today. AAVE is trading hands at $82.72 at the time of writing. The crypto pair also reports a loss of 4.99 percent over the last 24 hours. The market cap decreased by 3.73 percent, and the trading volume is currently at $208 over the last 24 hours, resulting in a market dominance of 0.40 percent. The moving average (MA) is trading at $86.57, just above the price level.
The volatility is high, which is why the Bollinger band average is now at $82.49, Whereas the upper Bollinger bands value is at $93.11 for now, and the lower Bollinger bands value is at the $76.72 mark. The Relative Strength Index (RSI) is trading at a horizontal line at index 56.27 in the lower half of the neutral zone due to the price returning back to its breakout point, and the indicator may take a downturn if the selling pressure continues.
Aave price analysis 4-hour price chart: Price action is expected to remain bearish
The 4-hour Aave price analysis confirms the above-mentioned analysis as the price breakout was upwards and bears have brought the price back downwards during the last 4 hours, and there are chances for more decline in price in the coming hours. But the opposite is also possible. The moving average (MA) on the 4-hour chart is trading at $85.86, just above the price level.
The volatility for AAVE/USD on the 4-hour chart is also high, with the upper band present at $99.62, and the lower band present at $80.17, whereas the mean average of the indicator is present at $82.52. The RSI shows a downward turn here as the selling pressure is there, and the indicator is hinting at the selling activity in the market.
Aave price analysis conclusion
Aave price analysis suggests the AAVE performed better yesterday as it is still trading below the $80 level, but the bearish momentum is there, and it may affect the price in the near term. However, if AAVE manages to break through the resistance level at $90.26, then we can observe better performance for this crypto asset in the future.
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.