Aave price analysis shows the prices have been trading at $94 for the last few hours. The current price is $94.63 after a 2.33 percent increase in the last 24 hours. The market capitalization is currently $1.352 billion, and the 24-hour trading volume is $127,640,350.98.The bulls have been defending the key support of $91.0 over the past few days. The $96.10 is limiting the upside, but the bulls are slowly gaining strength. The immediate support is present at $91.0 and resistance is seen at $96.10. A break above $96.10 could see prices testing $98.90 and $103.80 levels in the near term. On the downside, a break below $91.0 could see prices testing $88.00 levels.
Aave price analysis on a daily chart: Resistance at $96.10 limits the upside
The daily chart shows that the prices are trading close to the resistance of $96.10. The bulls have been defending the key support of $91 over the past few days. A break above $96.10 could see prices testing $98.90 and $103.80 levels in the near term. On the downside, a break below $91 could see prices testing $88 levels.
The 50-day moving average is at $93.47 and the 200-day moving average is at $85.54 indicating a bullish trend in the medium-term. The SMA -50 is above the SMA-200 which indicates a bullish trend. The RSI indicator is currently at 62.8 and is not in the overbought or oversold regions, indicating that there is scope for further upside in prices. The MACD line is currently in the positive territory, indicating a bullish trend in prices.
Aave price analysis on a 4-hour price chart: Bulls gaining strength
The 4-hour chart shows that the bulls have been defending the key support of $91.0 over the past few days. The market is currently experiencing some buying action as the red bars are getting taller and exceeding the green bars, indicating some presence of buying action. The prices are currently trading close to the resistance at $96.10.
The RSI indicator is currently at 61.6 and is not in the overbought or oversold regions, indicating that there is scope for further upside in prices. The 50 SMA line is currently at $93.83, and the 200 SMA line is at $85.62 indicating a bullish trend in the medium-term. The MACD line is currently in the positive territory, but is close to the zero line, indicating that there is scope for further upside in prices.
Aave price analysis conclusion
Aave price analysis indicates Aave prices are facing resistance at $96.10 but the bulls are gaining strength. A break above $96.10 could see prices testing $98.90 and $103.80 levels in the near term. On the downside, a break below $91 could see prices testing $88 levels in the short term. The bulls will need to break the $96.10 resistance to resume the uptrend. On the downside, the $91.0 support is holding well and is likely to provide strong support in case of a dip.
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Source: https://www.cryptopolitan.com/aave-price-analysis-2022-05-29/