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- The bullish push on today’s Aave price analysis chart started early. For the first two trading hours, buyers dominated the market, propelling the price of AAVE/USD to an intraday high of $377
- Only a few altcoins were in red in the early hours, but most crypto altcoins are in red at the time of writing.
- The Aave price analysis for the next four hours is positive, as the price action appears to be tenacious in breaking clear of the $364 rejection
The bullish push on today’s Aave price analysis chart started early. For the first two trading hours, buyers dominated the market, propelling the price of AAVE/USD to an intraday high of $377. Bears infiltrated the market and outnumbered bulls, resulting in price resistance. Aave’s price has fallen in a declining triangle. The coin then traded in a head and shoulders pattern, reaching an intraday low of $354. On the daily chart, Aave price analysis is trading bearishly, with extended red candlesticks showing the coin retracing 1.42 percent lower from Saturday’s price. The AAVE/USD pair had previously fallen from the $364 support, and the bears had continued to pull the price lower towards the $350 level.
In general, the cryptocurrency heatmap is leaking. The majority of cryptocurrencies are down slightly from yesterday’s price. Only a few altcoins were in red in the early hours, but most crypto altcoins are in red at the time of writing. What exactly does this imply? Is today going to be a cryptocurrency bearish day? With a (-1.3) percent deviation, Bitcoin (BTC) is trading little below $49K. Ethereum (ETH), its nearest competitor, is currently selling at $3.1K, down (1.5%) from yesterday’s pricing. With a (-1.3) percent decrease, Aave is trading in the same direction.
AAVE/USD fluctuated within a broad margin of $379 -$354 according to our 24-hour Aave price research. The widening implies that the daily chart has a lot of volatility. The entire daily trade volume, meanwhile, surged by 13.70 percent to $254 billion. Aave’s entire market value decreased by 1.46 percent to $4.7 billion. Overall, Aave is ranked 31st.
Aave is swinging in a zig-zag pattern, but with a buyer’s bias. The orders are clearly pointing to a bullish move higher for Aave. The Aave price analysis for the next four hours is positive, as the price action appears to be tenacious in breaking clear of the $364 rejection.
Despite the fact that the overall price structure appears to be negative, we might expect some gains in the coming hours. The MACD line and the red line have crossed each other multiple times on the four-hour chart. The MACD lines are pointing towards the red line at the time of writing, indicating that the MACD line may cross over the red line, marking a likely bullish momentum. Only a robust rally will allow
Aave to reclaim its early August swing high and overturn the present bearish pattern. The coin has already established a strong support level of roughly $354, and a break below that level is unlikely in the near term. After the bulls failed to hold support at $379, Aave Price Analysis is trading bearishly on the 24-hour trading chart. The bears are aiming for the $357 primary support level, from which they may be able to inflict larger pullbacks on the Aave price.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
