Aave price analysis shows the bulls have set a firm uptrend as prices spike by 12.82 percent in the last 24 hours. The resistance for AAVE prices is present at $ 107.92 while strong support is seen at the $91.78 level. Aave has had a trading volume of $277,508,067 and a market cap of $1,423,978,979 in the last 24 hours. AAVE is currently dominating the cryptocurrency market and has a market dominance of 1.40 percent.
Aave started the week on a positive note as prices surged by 12.82 percent in the last 24 hours. The bulls were able to push the prices from $93.89 to $105.71, at the time of writing. The green candlesticks formed a were larger as it ranks position 48 overall. The general market for cryptocurrencies is in the green as most of the top 50 digital assets are in the green.
Aave price analysis on a 1-day price chart: AAVE/USD bullish
The market for AAVE has seen some consolidation in the past week as prices have been fluctuating between $93 and $105. 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 $105.71.
The MACD indicator shows increasing bullish momentum as the MACD line (blue) moves above the signal line (red). The RSI for AAVE/USD on the 1-day chart is seen close to the overbought zone as it approaches the 70 levels, while MA50 (white) and MA200 (yellow) are both sloping upwards, indicating a growing bullish trend.
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.
The MACD line (blue) is seen moving above the signal line (red), indicating an increase in bullish momentum. The RSI indicator for AAVE/USD on the 4-hour chart is seen close to the oversold zone as it approaches the 30 levels, while the MA 50 (white) and MA 200 (yellow) are both indicating a growing bullish trend.
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 $107.92 and a further move above this level may take prices towards the $115 level. However, if the prices are correct lower from the current levels, strong support is seen at $91.78 and a further move below this level may take prices towards the $85 level.
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Source: https://www.cryptopolitan.com/aave-price-analysis-2022-05-23/