Recent price action in Aave price analysis shows that the altcoin is still enjoying bullish momentum. Aave’s price analysis for today shows that the coin has started the day on a strong note, with buyers pushing the price above $87.80 in spectacular fashion. The market has been choppy over the past few days as the bulls seem in no mood to relinquish their grip on the market.
The AAVE/USD price has risen over 3.70 percent in the last 24 hours and is currently trading at $88.74. The coin has a market capitalization of $1.22 billion and is ranked 17th on CoinMarketCap. The currency’s 24-hour trading volume is $126.81 million.
Aave price analysis for 1-day price chart: Bulls are successful in the comeback
Aave’s one-day price analysis confirms an uptrend for today, as the currency’s value has seen a significant improvement. Although the currency’s value suffered earlier, today, the effort by buyers remained commendable and sustained as the price action has been bullish and the price trend line is moving upwards.
The moving average (MA), which is currently $84.05, is quite supportive and buyers are trying to maintain the price around this level. Volatility on the one-day price chart is relatively high, with the upper Bollinger band at $88.94 and the lower Bollinger band at $82.32. The Relative Strength Index (RSI) score after today’s improvement has reached the index of 62 and will continue to improve further if the buying activity continues in the market.
AAVE/USD 4-hour price chart: cryptocurrency breaks barriers to reach $87.80
The 4-hour analysis of the Aave price favors the bullish side, as a strong increase in the AAVE/USD value was detected in the last few hours. Bulls are committed to regaining their leading position in the market and so far, their progress has been fascinating. The price experienced a rise to $87.80 in the last four hours due to the uptrend. Overall, the price action has been headed up for the last 12 hours.
At the same time, the moving average is trading at $85.69, slightly above the current market value, which indicates that the short-term uptrend is likely to continue in the market. Bollinger Bands have been quite volatile recently with the upper Bollinger band and the lower Bollinger band expanding. The RSI indicator is currently at 63 and moving higher, indicating that buying activity is likely to continue in the market.
Aave price analysis conclusion
Aave price analysis concludes that AAVE prices are currently trading in a bullish fashion and are likely to move higher in the near term as bulls remain in control of the market. However, the bears are also starting to show some signs of life and a breakout above the $88.94 resistance level will be needed to confirm the continuation of the uptrend.
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