Aave price analysis reveals the price has been trading high for the past two days as the bulls have been putting efforts to remain at the lead. An uptrend has been observed today as well, as the price has been increased to the $66.80 level as the bulls have maintained their strength. This has proved to be quite beneficial for the overall coin value, as chances of recovery have been availed to their best. It is expected that a further increase in price will follow in the upcoming hours as well.
The Altcoin has gained 5.46 percent at the time of writing and is currently trading at $66.80, supported by strong buy volumes. The overall market capitalization for the cryptocurrency is around $943 million, indicating that it still has significant upside potential, with a 24 trading volume of $147 million.
Aave price analysis 4-hour price chart: AAVE faces rejection at $70.35
The four hours Aave price analysis is declaring the bullish lead as the price has improved consistently. Since the past few hours, an upward trend has been observed as the price has moved up to the $66.80 level. The price has increased significantly as the bullish momentum has been intensifying since yesterday. The AAVE is facing resistance at the level of $70.35 and a further push-up is anticipated to be followed in the next few hours.
The Exponential Moving Average (EMA) is currently at $67.69, which indicates that the price will have to face rejection at this level in order to move further up. However, if we look at the MACD indicator, it is pushing upward and this signals a bullish presence in the market. The Relative Strength Index (RSI) is also in the bullish zone, indicating that the price will most likely move up in the coming hours.
AAVE/USD 1-day price chart: AAVE recovers up to $66.80 as bulls steer safely
The one-day Aave price analysis confirms an upward price movement for today, as the price has increased to $66.80. The price has been experiencing bullish momentum for the past few days. The bulls have been able to bring the price above the $66 level in the last 24 hours after gaining an advantage of the situation.
Looking at the one-day chart, The Relative Strength Index (RSI) is reading 51.67 points and is currently in the bullish region, which indicates that the bulls are steering safely at this moment. The EMA indicator is also in the positive zone at $66.85, which showcases a strong buy signal for the cryptocurrency. Moreover, the Moving Average Convergence Divergence (MACD) indicator is also pushing upward and this signifies that a further increase in price will take place in the coming days. Given these positive indicators, it is expected that Aave’s price will continue to rise in the near future.
Aave price analysis conclusion
The price experienced bullish progression today, as confirmed by the one-day and four-hour Aave price analysis. The bulls are now back on track as they have been able to bring the price up to $66.80 in the last 24 hours as the trend remained bullish throughout the day. It can be expected that Cryptocurrencies will continue their bullish ascent in the coming hours.
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Source: https://www.cryptopolitan.com/aave-price-analysis-2022-11-11/