The recent Aave price analysis revealed that the crypto asset is trading in a strong bullish trend. The pair is trading within a range of $77.66 and $81.24 for the past couple of hours today. The AAVE/USD pair is currently trading at $80.72 and is up by 1.05% over the last 24 hours.
The buying pressure of the crypto asset is pushing the price above $80.00 and it looks like it’s ready to break out of this resistance soon. If the bullish pressure continues, AAVE could test its all-time high of $104.20 in no time at all. The support for the Aave coin is seen at $77.66, which could be a buying opportunity for traders if the price retraces.
Aave price analysis 1-day price chart: AAVE towers above $80.00
The 1-day price chart for Aave price analysis shows positive price movement of AAVE. Although the previous day’s trading session saw some bearish pressure, the price has managed to stay above $80.00 with strong buying pressure from investors and traders alike. The market cap of the AAVE coin is currently at $12.43 billion and the 24-hour trading volume is at $30.21 billion.
Meanwhile, if we talk about the moving average value in the 1-day chart, it is found to be resting at the $85.94 level for the AAVE/USD pair. The RSI indicator is moving in an upward direction, and it has reached the 45.16 level. The Bollinger bands have started to widen, which indicates that the market volatility is increasing, and we can see some good price action in the days ahead.
Aave price analysis: AAVE/USD is trading in a strong bullish trend
The 4-hour price chart for Aave price analysis shows the price breakout was downwards today and remained bearish during the first eight hours today. Then bulls made a comeback and elevated the price to $80.72, but again a bearish activity has been going on during the last four hours. This is a worrisome sign as, despite the price still being in the green, the bears have been leading for most of the time.
The upper Bollinger bands are currently at $87.25, and the lower Bollinger bands are at $77.64. The bullish momentum may intensify in the upcoming hours if the buyers put in more effort. The moving average (MA) is also at a lower height as compared to the current price and is present at $80.34. The relative strength index (RSI) is currently at the 36.75 level, which means that there is some degree of bullishness in the crypto asset.
Aave price analysis conclusion
The Aave price analysis shows that the crypto asset is currently trading in a strong bullish trend, and it could break out of its resistance soon to hit its all-time high. The support for AAVE/USD is still well above $77.66, which could be a great buying opportunity if the market retraces.
