Aave price analysis: AAVE retests $82.0 for bullish confirmation

In this post:

  • Aave price analysis shows an uptrend
  • AAVE prices are facing resistance at $85.0
  • Immediate support has been established at $78.0

Aave price analysis shows the altcoin is progressing further in the bullish trend. The cryptocurrency is seen at $82.04, marking a 3.70% gain in the last 24 hours and retesting $82.0 for bullish confirmation.AAVE prices have been consolidating above this level for some time now, with a few minor corrections along the way. This has caused a shift in the immediate support to $78.0, and the altcoin is currently facing resistance at $85.0.

image 4
Cryptocurrencies price heatmap: Coin360

The bullish momentum behind Aave remains strong as investors are confident that it will soon break above this resistance level. If successful, AAVE could surge higher and touch the 30-day high of $90.37, which was set to overcome the SMA 100 resistance. Meanwhile, the price has climbed above the daily moving average and is heading toward the SMA 50.

Aave price action on a daily chart: Bullish momentum is steadily increasing

The Aave price analysis on a daily chart shows the bulls have been increasingly driving the price higher. The MACD has formed a bullish crossover and is seen heading toward the positive region. This indicates that the bulls have taken control of the market and will likely extend their grip further in the coming days.

image 3
AAVE/USD daily chart,Source: Tradingview

On the other hand, RSI is also seen moving above 50, which reflects buyers’ enthusiasm for pushing AAVE prices higher. Furthermore, the Stochastic RSI is still in the overbought zone but is seen forming a bearish crossover to signal a potential price correction. As such, if AAVE retests $82.0 and breaks out of it with strong momentum, then further gains can be expected in the near future.

Aave price analysis on a 4-hour chart: Strong buying pressure is expected

The Aave price analysis on a 4-hour chart shows that the bulls have been dominating the market and pushing the prices higher. The MACD line is seen moving above 0, signaling strong buying pressure in the market. Moreover, the Stochastic RSI is still in the overbought region and has formed a bullish crossover. This confirms that the bulls are in full control of the market and could push AAVE prices higher in the near future.

image 2
AAVE/USD 4-hour chart,source: Tradingview

Further technical analysis reveals the altcoin has formed a bullish flag pattern, indicating increased buying pressure around the $82.0 level, which could lead to further gains in the short term. Therefore, a break above the $85.0 level could lead to a surge in prices and open the gates for AAVE to test its 30-day high of $90.37 and beyond.

Aave price analysis conclusion

Aave price analysis for today reveals the altcoin’s price has climbed above the important moving averages, namely, the SMA 50 and SMA 100. Additionally, the technical indicators point to an increase in bullish momentum that could propel AAVE prices above $85.0 and towards the EMA 200 at $90.37. If the altcoin breaks out above this level, then further gains can be expected in the near future. However, failure to do so could lead to a price correction and drag AAVE back toward the immediate support of $78.0.

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.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Terraform Labs
Subscribe to CryptoPolitan