Aave price analysis: Bulls take control as prices hit highs of $91.56

Aave price analysis: Bulls take control as prices hit highs of $91.56

TL;DR BreakdownAave price analysis is bullish today
Resistance for AAVE is present at $93.90
Support for AAVE/USD is present at $89.91

Today Aave price analysis shows signs of an uptrend, as the price underwent a further increase in the last 24 hours. The price is on its way towards revival and has recovered up to the $91.56 mark during the day as the bullish trend has gained stability.

Source: Coin360

The past week has proved to be highly supportive for the buyers. A constant uptrend has been on the rise, and a similar trend is observed even today. Further recovery is possible if the buyers remain persistent with their efforts.

Aave has started a week with a positive note as the prices have increased by a small margin. The market is expected to show some positive movements in the near future as the buyers have taken control of the prices. The current market scenario is highly bullish, and a breakout above the resistance level of $93.90 can provide further momentum to the prices.

AAVE/USD 1-day price chart: Bulls continue to push prices higher as altcoin hits $91.56

The one-day Aave price analysis confirms a bullish trend for cryptocurrency, as the AAVE/USD value has increased significantly. A considerable degree of increase in coin value is being detected due to emerging bullish efforts. The price is now standing at $91.56, as the coin gained 0.68 percent value during the last 24 hours, and the weekly trend line is also going upwards. The moving average (MA) is present at the $93.63 level.

AAVE/USD 1-day price chart, source: Trading View

The volatility is high as the upper end of Bollinger Bands Indicator is now at $93.90 position, representing the resistance, whereas the lower band is standing at $89.91 position representing the strongest support for Aave. The Relative Strength Index (RSI) score hasn’t increased much, and the indicator is trading at index 46.08 in the upper half of the neutral range.

Aave price analysis on a 4-hour price chart: AAVE /USD set to break out higher

The four-hour Aave price analysis also dictates an uptrend as the bulls have been maintaining their lead quite efficiently. Although the bulls managed to upgrade coin value in the earlier hours of the day, the price increments have slowed down now. This has resulted in the price floating at the $91.56 mark, encouraging the buyers. If we discuss the moving average indicator, then its value is currently $91.49.

AAVE/USD 4-hour price chart, source: Trading View

The Bollinger bands average has moved up to $90.39 because of the constant increasing trend. The upper band of Bollinger Bands Indicator is now touching the $91.17 mark, and the lower band is touching the $87.07 mark, indicating high volatility even on an hourly basis. The RSI curve is moving horizontally as the score is now 58.70 near the border of the overbought region.

Aave price analysis conclusion

Aave price analysis shows that AAVE’s price is expected to continue its upward move as the bulls remain in control of the market. The next target for the bulls is seen at $93.90, and a breakout above this level can lead to further gains in the coin’s price. On the downside, the major support is seen at $89.91, and a break below this level can invalidate the bullish trend. In such a case, the prices may drop to $86.50.

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.

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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