AAVE/USD pair bearish for the next 24 hours

TL;DR Breakdown

• The Aave price analysis is bearish today.
• Resistance is present at $221.
• Support for AAVE is present at $206.

After a continuous bullish momentum for the previous few days, when the price was lifted to $218, the Aave price analysis reveals a Bearish trend is emerging. From January 11th, bulls had been in command. Still, bears are fighting back today, demonstrating an outstanding resistance within the last several hours, bringing the value back to $214.8 at the time of writing.

Today, the Aave price analysis shows that the bearish momentum pushes the value to breach any support at $206 and reach even lower prices. The resistance level, tested several times since January 11th, was breached with ease, signaling a bullish-to-bearish trend change.

Today’s Aave price analysis also revealed that the bullish momentum was not strong enough to lift the value above $220, showing a continued bullish trend. However, if bulls can find support at $206 and face off bears, there is hope for Aave to recover towards $221.

As far as the technical indicators are concerned, both the RSI and the MACD favor bears, with the RSI being located at 43.03 and the MACD revealing a bearish trend.

The Aave price analysis today shows that bulls need to find support for a bullish movement to be initiated. The support point is $206, while resistance is present at $221.

AAVE/USD 4-hour price analysis chart: Recent developments and further technical indications

The 4-hour Aave price chart indicates that the downward momentum was broken by bears, who have offered strong resistance to the rising price due to previous bullish energy by reducing it to $214. However, AAVE/USD has obtained support and is again increasing from the previous four hours, a positive indication.

The volatility is still high as the Bolinger bands widen due to the market’s high volatility. However, there are no indications that bears will take over this time either, just because bulls managed to defend $206. Today’s Aave price analysis still signals a bullish trend in the upcoming hours.

After all, resistance is present at $218, and support for AAVE is present at $206. This means that the bearish trend is not yet established, and bulls can still make a comeback to $221, which will be interesting to see as well.

Today’s Aave price analysis shows that the short-term bearish momentum might weaken towards the end of the day, but there are no other positives for bulls at this point. It will be interesting to see whether bulls manage to defend the support level of $206 with ease or bears will push for a continuous momentum towards lower prices.

Aave Price Analysis: Conclusion

We can conclude from the above Aave price analysis that sellers dominated the market, as evidenced by the incredible bearish momentum driving the price change. The higher volatility appears to favor bears, but if the bullish trend that began in the previous four hours continues, AAVE/USD may continue gaining momentum.

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