Aave’s price analysis shows that the bulls have established a firm uptrend as prices climbed 1.76% in the past 24 hours. AAVE price resistance is present at $77.51 while strong support is seen at the $73.33 level. Aave had a trading volume of $102,728,797 and a market capitalization of $1,081,329,513 in the last 24 hours.
The bulls were able to push prices from a low of $73.33 to a high of $77.51 within hours. The market then corrected lower when prices found support at the $73.33 level. The bulls have since regained control and are pushing prices higher. The next level of resistance is seen at the $77.51 level and a break above this level could see the price rise towards the $78 level.
1-Day AAVE/USD Price Chart: Uptrend Leads Price Higher to $76.64
The Aave Price Analysis market has seen some consolidation over the past week as prices fluctuated between the $72 and $76 levels. The current price surge has taken prices to the upper boundary of the consolidation range and further upside may take place in the near term as the price is currently trading at $76.64.
The 1-day technical indicator for the Aave market shows an upward trend as the MACD line is trading above the signal line. The RSI indicator is currently trading at 41.86 and shows no signs of overbought or oversold conditions. The 50-day simple moving average provides market support at the $73.33 level while the 200-day simple moving average provides market resistance at the $77.51 level.
AAVE/USD on a 4-hour price chart: Bulls controlling the market
Aave price analysis on the 4-hour chart, AAVE/USD is trading in a parallel ascending channel as prices corrected lower after hitting the upper boundary of the channel. The current move can be considered a retracement as prices are still trading inside the bullish channel.
The RSI curve is currently trading at 49.71 and provides no clear indication as to the direction of the market. The MACD indicator is also trading near the zero line, which shows that there is no clear trend in the market at the moment. The 50-day SMA and the 200-day SMA are approaching each other, which is a sign of further consolidation in the market.
Aave Price Analysis Conclusion
The price analysis of Aave shows that the price of AAVE is likely to continue its upward trend as the bulls maintain control of the market. The next target for the bulls is set at $77.51 and further movement above this level could take prices towards the $78 level. However, if prices are properly below current levels, strong support is seen at $73.33 and further movement below this level could take prices towards the $70 level.
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