Aave Price Projection: AAVE Bulls To Break Above $400

AAVE price surged from the support of $340.0
  • AAVE price surge from $340.0 to $381.30 on Thursday’s trading session
  • The 24-hour volume in AAVE is at $404,324,277 with a 7.07% decrease
  • The AAVE/BTC pair was trading at 0.006433 BTC with a gain of 2.05%

The 4-hour technical chart highlights AAVE price action represents it is in an uptrend. According to pivot points, AAVE’s critical support level is placed at $340.0. Whereas if it moves up, the key resistance level to watch is $393.50. While diving into the weekly chart of a 4-hour time-frame, it completes a hammer candlestick pattern representing bullish reversal with medium reliability.

EMA-(8,13,21,55) acts as another strong support in the coin. EMA-8 (blue) intersects above EMA-13 & 21 (green & yellow), which projects a bullish trend. The price is also above EMA-55 (red). Investors may perceive a positive crossover in the EMA, and the price will also follow the positive trend.

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RSI indicator (BULLISH), with a value of 60.25, indicates a buy signal in the coin. Moreover, Investors can see a downward slope from 66 to 60 in the index, and it may soar in future trading sessions.

The volume of (39.27K) represents a buying volume which is above the Volume MA (26.31K) of 20-days. High buying pressure is maintained in AAVE to drive its price to higher levels.

Bulls In Favour Of AAVE Price 

AAVE price traded at $381.30 with a gain of 3.58% in the last 24-hour and 15.27% up in the weekly time-frame. Furthermore, AAVE price surged from the support of $340.0. In contrast, the market capitalization stands at $4.68 billion. Technically, investors can perceive a positive crossover in EMA, and the price is above the 55-EMA. RSI index showcases a downward slope for a short while. Moreover, the price movement can be towards the resistance of $393.50 in future trading sessions.

Resistance: $393.50

Support: $340.0

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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