Aave’s price analysis for today shows that the crypto is currently trading at $81.44. The market has seen slight volatility over the past few hours; however, the overall trend appears to be bearish. The price levels have moved lower to the $80.41 level which acts as strong support for the market while resistance is present at the $85.13 level.
The bears are inclined to take the price lower than the current value of the price to continue to maintain their bearish slide that has been going on for a few hours. The coin has decreased by 3.74% in the last 24 hours, the coin’s trading volume is $174 million, and the market capitalization is $1.114 billion.
Aave Price Analysis 1-Day Price Chart: Downtrend deepens as price drops to $81.41
The 1-day price chart showing Aave’s price analysis again goes in favor of the bears, as they have regained momentum after a negligible bull run. The price fell to $81.44 after the bears regained control of the market. The market opened today at $84.08, and since then it has been in a downtrend as the bulls were unable to take on the market momentum.
Exponential moving averages are all stacked bearish as price is trading below them. The 50-day EMA ($88.22) is closest to the candlesticks, followed by the 200-day EMA ($90.08) is farther from the current price, indicating that the path of least resistance is at the decline.
The MACD indicator is currently in the bearish zone as the signal line is above the candlesticks, indicating that the bears are in control of the market momentum. The RSI indicator is currently at 45.25 indicating that the market does not have oversold or overbought conditions at this time.
Aave Price Analysis 4-Hour Price Chart: Cryptocurrency Takes Damage as Price Drops as High as $81.44
The 4-hour Aave price analysis indicates that the bearish momentum has caused the price value to decline further. The price fell to $81.44 after overcoming the advances coming from the bullish side. The bulls also showed strong performance during the day, but ultimately the bears outperformed them.
The Relative Strength Index (RSI) score also followed a steep decline as it reached near the undersold mark and is trading at an index value of 46.16. The MACD indicator on the 4-hour timeframe is also in the bearish zone, as the signal line is one position above the candlesticks, indicating a bearish market for AAVE. Both EMAs are sloping down in the bearish zone indicating that the path of least resistance is on the downside and more bearish pressure is likely to be seen in the market.
Aave Price Analysis Conclusion
The price saw a decline today as confirmed by the 1-day, 4-hour Aave price analysis. Although the market is currently in a downtrend, it is possible for the bulls to regain control and push prices higher. However, this is unlikely to happen in the near term as market indicators all point to further downside potential.
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