AAVE Bulls and Bears Face Off at $87.90 Resistance Level

Yesterday’s AAVE bullish market took the price to exactly the $90 price level before the bearish resistance made the market pull back. As today’s market opened, the bullish market attempted the same $90 price level and it was rejected again. This time, the price fell to $87. It is looking like the market has formed a major resistance level at $88.85 where the price was rejected.

AAVE Market Price Statistic:

• AAVE/USD price now: $87.14
• AAVE/USD market cap: $1,229,385,392
• AAVE/USD circulating supply: 14,093,192.58
• AAVE/USD total supply: 16,000,000
• AAVE/USD coin market ranking: #44

Key Levels

• Resistance: $0.900, $0.950, $1.000
•  Support: $0.8250, $0.8000, $0.761

Aave Market Price Analysis: The Indicators’ Point of View

Although the upper band of the Bollinger widened due to yesterday’s strong bullish market, it is now pulling back because today’s bullish price was rejected at the $90 resistance level. And now due to a reduction in traders’ interest, for the time being, the price continued at the current price for some period without making progress to the upside or the downside. Today’s bearish market has not been reflected in the MACD indicator which still shows green histograms. And the green histograms signify a bullish market. This may be because the market remains stagnant at the current price.

AAVE/USD 4-Hour Chart Outlook

In the fourth session of today’s market, the Aave market witnessed a bit of volatility as neither the buyers nor the seller could take the control of the market. However in this same session, sellers have the upper hand, but due to the market volatility in the 4th session, it is still possible for buyers to take the session. Generally in today’s market sellers had the upper hand. The buyers are not sidelined in the market; their activities can still be seen from today’s market on the chart. Bulls may recover their ground in tomorrow’s market.

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