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Aave price analysis: Bears force Aave into short-term downswing to $350

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Aave price analysis: General price analysis

Today’s Aave price analysis chart started with bullish pressure. The buyers dominated the market for the first two trading hours, pushing the price of AAVE/USD to an intraday high of $377. Bears came in and outnumbered the bulls, and so causing price resistance. The price of Aave dropped in a descending triangle. After that, the coin traded in head and shoulder trend, recording the intraday low of $354.

Aave price analysis is trading bearishly on the daily chart with long red candlesticks that saw the coin retrace 1.42 percent lower from yesterday’s price. The AAVE/USD pair fell from the $364 support earlier on, and the bears hae continued pulling the price downwards towards the $350 support. 

Aave price analysis: Bears force Aave into short-term downswing to $350 1

Source: coin360

The cryptocurrency heatmap is generally bleeding. Most of the cryptocurrencies have recorded slight drops from yesterday’s price. In the early hours, only a few altcoins were in red, but most of the crypto altcoins are in red at the time of writing. What does this mean? Is it going to be a bearish day for cryptocurrencies?

Bitcoin (BTC) is trading slightly below $49K with a (-1.3) percent deviation. Its closest competitor, Ethereum (ETH), is trading at $3.1K, a decline of (-1.5) percent from yesterday’s price. Aave is trading in the same trend with a decline of (-1.3) percent.

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Aave price movement in the last 24 hours: AAVE/USD retraces to $372

According to our 24-hour Aave price analysis, AAVE/USD traded within a wide margin of $379 -$354. The wideness indicates high volatility across the daily chart. Meanwhile, the total daily trading volume increased by 13.70 percent to a sum of $254 billion. The total market capitalization for Aave dropped by 1.46 percent to a sum of $4.7 billion. Aave ranks at number #31 overall.

Aave is swinging in a zig-zag motion but the bias is towards the buyers. The orders are certainly prepping Aave for a bullish rally higher.

AAVE/USD 4-hour chart: AAVE prepares for another rally?

Our 4-hour Aave price analysis seems bullish as the price action seems persistent to break out of the $364 rejection. Despite the general price structure seeming bearish, we can expect some gains in the next few hours.

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Aave price analysis: Bears force Aave into short-term downswing to $350 2

Source: Tradingview

In the four-hour chart, the MACD line and the red line have been crossing each other severally. At the time of writing, the MACD lines point towards the red line, meaning there is a possibility of the MACD line crossing over the red line signaling a possible bullish momentum.

Only a strong rally will flip the current bearish structure and enable Aave to regain its early August swing high. The coin has already established solid support of around $354, and there is no likelihood of breaking below that support in the short term. 

Aave Price Analysis: Conclusion

Aave Price Analysis is bearishly trading on the 24-hour trading chart after the bulls failed to sustain support at $379. The bears are headed for the $357 main support from where they could exert stronger pullbacks on the price of Aave.

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AVAX, SOL, SUSHI and MOVR To Go For 30X After the Dump! But How?

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Economic turmoil coming out of the Chinese market has threatened the crypto space for the second time this year. But every dip is for creating our own opportunity in order to gain massive profits! Therefore, buying the right asset is a challenge that holds the strong fundamentals and can bring you more gains. This article will help you understand the top altcoins that have the strong potential to go for 30X after the dump.

AVAX (Avalanche): 

Avalanche (AVAX) is one of the fastest smart contracts platforms built by Ava Labs. This Proof-of-Stake blockchain can process 4,500 transactions per second. 

AVAX price is trading at $71.10 at the press time. Due to the bear market sentiments, the price is down by 10.73% in the last two days.EllioTrades, a popular crypto platform and co-founder of SuperFarmDAO roots the AVAX price to skyrocket to new milestones by surging at least 5x, if it plunges well below the $50 support level.

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Recent News on AVAX:

  • The AVAX platform has seen exceptional growth over the past few weeks, from $0.5 billion in TVL from August 1st week to $3 billion on September 24th.
  • On September 22nd, 2021 Alpha Homora V2 launched on Avalanche blockchain. Now the users have access to leverage yield farm with competitive gas fees.  
avax

Solana (SOL)

The Solana ecosystem made two good moves in the year 2021.  In the first half of 2021, the SOL price rallied from $4.22 to $56 on May 18th. And in the second half of 2021, the rise was even more intense. The SOL price hit an ATH of $214.96 in September 1st week.

EllioTrades predict if the SOL price slumps down below $100 or even $70 then that creates a strong buy opportunity. According to the platform, the SOL  price will skyrocket if it retests that level.

Solana roadmap looks interesting as unique projects are awaiting launch. Investing in the right frame is what can bring profits. 

SushiSwap (SUSHI):

SushiSwap (SUSHI) is an automated market maker (AMM), utilises smart contracts to create markets for given pair of tokens. 

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With a slight pullback, the SUSHI price is trading at $9.52 at the press time. EllioTrades say the SUSHI token is the best option to buy if its price falls well below $3 or $2.

Speculations say SUSHI is set for the world’s one of the largest NFT marketplace launches to compete against OpenSea, SUSHI price is expected to reach new highs once the launch happens.

MoonRiver (MOVR):

This Ethereum compatible, smart-contract parachain on Kusama is another coin on the cart of EllioTrades. The platform made a whopping prediction for MOVR, says if MOVR price retests between $180 to $200, then the protocol could bring huge profits!

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On September 21st, the Moonsama team launched the first NFT marketplace on Moonriver. Many projects in the pipeline MOVR may soon surge to new highs.

Collectively, the EllioTrades platform also included OsmosisStarAtlasUFO Gaming and Rari Governance Tokens to their cart. Buying the above-mentioned assets by taking calculative risks will bring more gains, and investing in the wrong time frame would result in disastrous losses. 

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Aave Price Analysis: AAVE retests $305 previous low, a swift reversal from there?

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Aave price analysis is bullish today as the market has reached previous support at $305 and rejects further downside over the last hours. Therefore, we expect AAVE/USD to reverse later today and move back towards the $345 resistance.

Aave Price Analysis: AAVE retests $305 previous low, a swift reversal from there? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded with a bearish momentum over the last 24 hours, with Bitcoin down by 3.26 percent. Ethereum is down by 5.86 percent, while Solana is among the worst performers, with a loss of more than 11 percent.

Aave price movement in the last 24 hours: Aave retraces to $305 support.

AAVE/USD traded in a range of $304.29 – $337.89, indicating strong volatility over the last 24 hours. Trading volume has increased by 3.26 percent and totals $314.12 billion, while the total market cap trades around $4.15 billion, ranking the coin in 37th place.

AAVE/USD 4-hour chart: AAVE set to reverse later today?

On the 4-hour chart, we can see Aave price rejecting further downside, indicating an upcoming reversal back to $345 resistance.

Aave Price Analysis: AAVE retests $305 previous low, a reversal from there?
AAVE/USD 4-hour chart. Source: TradingView

Aave price action has seen strong volatility over the past weeks. After failing to set a further higher high at the beginning of September, a lower high was set around $420.

From the $420 resistance, AAVE/USD spiked lower 25 percent until support was found around $310. What followed was a reaction back to $345 previous support turned resistance and another retest of the $310 support, this time moving slightly lower – to $305.

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Over the weekend, the Aave price action rallied higher again and retested the $345 resistance for the second time. Further upside could not be reached, leading AAVE/USD to another drop today back to $305 support. 

Aave Price Analysis: Conclusion 

Aave price analysis is bullish today as the market retested the $305 support with a rejection for further downside. Therefore, we expect AAVE/USD to reverse later today and look to break above the $345 previous resistance.

While waiting for Aave to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.

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Aave Price Analysis: AAVE retests $345 resistance, will it break higher?

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Aave price analysis is bullish for today as the market has rallied to $345 resistance over the last 24 hours and currently looks to break higher. As long as we don’t see strong rejection later today, we expect AAVE/USD to continue higher and break above the $345 resistance next.

Aave Price Analysis: AAVE retests $345 resistance, will it break higher? 1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market traded mostly in the green over the last 24 hours. The market leaders, Bitcoin and Ethereum, are up by 1.08 and 3.48 percent, respectively. Meanwhile, Solana (SOL) is among the worst performers, with a loss of more than 4 percent.

Aave price movement in the last 24 hours: Aave rallies to $345 resistance again

AAVE/USD traded in a range of $321.93 – $348.25, indicating mild volatility over the last 24 hours. Trading volume has increased by 3.47 percent and totals $291 billion, while the total market capitalization trades around $13.6 billion, ranking the coin in 37th place overall.

AAVE/USD 4-hour chart: AAVE ready to break higher?

On the 4-hour chart, we can see the Aave price action attempting to break the $345 resistance, which could lead to a lot more upside fi broken.

Aave Price Analysis: AAVE retests $345 resistance, will it break higher?
AAVE/USD 4-hour chart. Source: TradingView

Aave price action has seen strong volatility over the past weeks. After peaking at $445 on the 17th of August, AAVE/USD spent the rest of August slowly retracing to $345 support.

A rally, which set a lower swing high at $420, was seen from the support during the first week of September. From there, another quick drop of 25 percent was seen on the 7th of September, with support found above $305 this time.

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Over the following days, a slight reaction to the upside was followed by another retest of the $305 support. After rejecting further downside, AAVE/USD rallied higher over the last 24 hours and reached the $345 resistance again.

Considering this Aave price action development, we expect more upside to be seen over the following days. If the $345 resistance gets broken today, we expect Aave to rally to $390 next.

Aave Price Analysis: Conclusion 

Aave price analysis is bullish today as the market saw a strong move to the upside over the last 24 hours after retesting $305 support. If the current resistance at $345 is broken, we expect AAVE/USD to rally much higher later today, with the next resistance around $390.

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While waiting for Aave to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.

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