AAVE/USD gains momentum at $92.45

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Aave price analysis shows the bulls have set a firm uptrend as prices spike by 18 percent in the last 24 hours. The resistance for AAVE prices is present at $ 93.83 while strong support is seen at the $77.66 level. Aave has had a trading volume of $589,249,270 and a market cap of $1,284,295,759 in the last 24 hours. AAVE is currently dominating the cryptocurrency market and has a market dominance of 3.27 percent.

The bulls were able to push the prices from a low of $90.05 to a high of $92.45 in a matter of hours. The market then corrected lower as the prices found support at the $77.66 level. The bulls have since regained control and are pushing the prices higher. The next level of resistance is seen at the $93.83 level and breaking above this level could see prices move higher towards the $95.00 level.

AAVE/USD 1-day price chart: AAVE /USD trades at $92.45 after a bullish run

The daily market for Aave price analysis has seen some consolidation in the past week as prices have been fluctuating between the $77.66 and $93.83 levels. The current price surge has taken the prices to the upper limit of the consolidation range and a further move up may take place in the near term as the price is currently trading at the $92.45 mark.

AAVE/USD 1-day price chart, source: TradingView

The upper Bollinger Band is seen at the $103.64 level while the lower Bollinger Band is placed at the $75.98 level. The Relative Strength Index is currently seen at the 59.21 level and is indicative of some bullish momentum in prices. The Moving Average Convergence Divergence is currently in the bullish territory but is close to signaling a bearish crossover. This may result in some corrective pullback in prices in the near term.

AAVE/USD on a 4-hour price chart: Bulls in control of the market

Aave price analysis on the 4-hour chart, AAVE/USD is seen trading inside an ascending parallel channel as prices corrected lower after hitting the upper limit of the channel. The current move can be considered a retracement as the prices are still trading inside the bullish channel.

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AAVE/USD 4-hour price chart, source: TradingView

The RSI curve is currently below the 63.00 level and is signaling some bearish momentum in prices. The MACD indicator is currently in bullish territory but a bearish crossover may take place in the near term which may result in some corrective pullback in prices. The bulls seem to be in control of the Aave market as the upper Bollinger Band is seen at the $93.83 level while the lower Bollinger Band is placed at the $77.66 level.

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 the $93 level and a further move above this level may take prices towards the $95 level. However, if the prices are correct lower from the current levels, strong support is seen at $77.66 and a further move below this level may take prices towards the $75 level.

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.

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