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Aave price analysis: AAVE spikes to $62.75 after a strong bullish trend

Aave price analysis

TL;DR Breakdown

  • Aave price analysis shows a bearish trend
  • Resistance for AAVE/USD is present at $63.10
  • Support for AAVE is present at $59.43

Aave price analysis shows a bullish trend as an upward price movement has been recorded in the last 24 hours. The market has been following a bullish trend for the past few days, and the price has significantly improved.  A similar trend was observed today as well, as the bullish momentum has gained strength, and after retaking hold of the market, it has taken the AAVE/USD value up to the $62.75 mark.

AAVE/USD 1-day price chart: cryptocurrency trades at 62.28 as bulls continue the uptrend

The one-day Aave price analysis confirms an upward trend for the crypto pair, as the bulls have been leading the price chart even today. The past week has proved to be quite favorable for the buyers. Today’s trend has yet again proved to be on the supportive side, as the price has increased up to the $62.75 level gaining 3.06 percent value during the last 24 hours. Meanwhile, the moving average (MA) value has been trading at $58.55 as well.

image 464
AAVE/USD 1-day price chart, source: Tradingview

The increasing volatility is indicative of future trends, and it can be predicted that more uptrends may be observed in the future. The Bollinger Bands’ upper value has moved up to $63.10 as the price is trading above it, while its lower value is $59.43 representing the strongest support. The Relative Strength Index (RSI) score moved up to index 38.77 because of the continuous buying trend observed during the past three days, and it continues to move toward the overbought region.

Aave price analysis 4-hour price chart: AAVE gains momentum at $62.28

The 4-hour price chart for Aave price analysis shows the price has undergone a recovery today, but a correction was also observed at the end of the previous trading session; however, the correction was small and did not seep into today’s price action. The buying momentum intensified today, and the buyers are now dominating the market as the price is moving upwards. The price has increased to $62.75, which is still at a higher point than its moving average, settling at the $61.12 mark.

image 465
AAVE/USD 4-hour price chart, source: Tradingview

If we discuss the Bollinger bands values, its upper value is at $62.75, and its lower value is at $56.77. The price has jumped above the Bollinger bands limits as bullish momentum is quite aggressive. The RSI curve shows an upward movement, and the score has been increased to index 60.14 in the overbought region on the 4-hour chart.

Aave price analysis conclusion

Aave price analysis shows that the price has significantly improved today. The price has increased up to $62.75 after undergoing constant upgradation. The bullish trend is strong, and it is likely to continue in the near future and reach new highs.

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.
John Palmer

John Palmer

John Paul is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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