The Aave price analysis reveals the cryptocurrency to be following a declining trend, where significant devaluation has been occurring for the past few days. The price of AAVE/USD had reached the $150 mark on May 4, 2022, before declining to $144 on the same day. The price suffered a flash crash on the same day, which further devalued the price. As a result, the price went from $150 to the $146 mark.
The current trading price for AAVE is $144. Aave has been up 1.04% in the last 24 hours, with a trading volume of $223,596,028. AAVE has a live market cap of $1,988,232,623 and a circulating supply of 13,703,183 AAVE coins. AAVE currently ranks #46 in the cryptocurrency rankings.
AAVE/USD 4-hour price analysis: Latest developments
The Aave price analysis has revealed the market volatility to be massive and following a declining trend, making the price of the cryptocurrency less exposed to experiencing variable change on either extreme. The upper limit of the Bollinger’s band is present at $148, which serves as the strongest resistance for AAVE. Conversely, the lower limit of the Bollinger’s band is available at $139, which represents the strongest support for AAVE.
The AAVE/USD price appears to be crossing over the curve of the Moving Average, indicating a bullish trend. Bulls have dominated the market for a while, and now that the volatility is decreasing, they could completely engulf the market. However, the price seems to follow a downward movement after breaking the resistance yesterday. It seems the market has reversal tendencies.
The Aave price analysis reveals the Relative Strength Index (RSI) to be 45, and this value indicates a relatively stable cryptocurrency, falling in the lower neutral region. Furthermore, the RSI path appears to be following a downward approach which shows that the cryptocurrency shows declining signs of being further devalued or being devalued, for that matter.
Aave price analysis for 1-day: The market moves downward
The Aave price analysis shows market volatility following an increasing trend. Although the market’s volatility is massive, it seems to be following a further increment. This means that the Aave prices subject to fluctuations will remain move with the volatility and become more susceptible to volatile change. The upper limit of the Bollinger’s band exists at $191, which acts as the strongest resistance for AAVE. Conversely, the lower limit of the Bollinger’s band is available at $137, representing the strongest support for AAVE.
The AAVE/USD price appears to be crossing under the Moving Average curve, indicating a strong bearish trend. The market remains bearish, with massive volatility. We can observe the AAVE/USD price path following a downwards movement.
The Aave price analysis reveals that the Relative Strength Index (RSI) is 39, meaning that the cryptocurrency does not fall to either extreme. The cryptocurrency currently belongs to neither the undervalued lot nor the overbought category. The RSI can be seen following a slight upward movement that reflects an increasing market trend and small chances of a reversal.
Aave Price Analysis Conclusion
The Aave price analysis concludes that the cryptocurrency follows a definite bearish trend. The price reached $150 on May 4, 2022; however, the price has been struggling even to the $146 mark now. The price has been on a decline ever since then. The current price of Aave is $144. The cryptocurrency is suffering from severe devaluation. The bears have gripped the market and are not keen on letting go quickly.
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Source: https://www.cryptopolitan.com/aave-price-analysis-2022-05-04/