Connect with us

Aave

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

Published

on

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.

Advertisement

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.

Advertisement

News Source

Aave

Aave (AAVE) Analysis: Will AAVE finally be able to get out of its bearish curse?

Published

on

  • AAVE is back with a bullish momentum after its gradual fall in November
  • The token is attempting to replace its previous 24-hour high price mark
  • Its current market price is 4.45% greater than yesterday’s closing value

AAVE’s current bullish sentiment aims at taking over the bears who damaged its price for far too long. The token’s weekly performance suffered a reduction of 8.81%, and it was getting damaged for the past six months. The current market cap of AAVE rounds off at $3.3 billion after an increase of 4.27%. The token’s trading volume pushed itself up in the market after an intraday uplift of 36.53%. The AAVE/BTC pair stands at 0.004346 BTC, gaining 4.98% during the intraday session, followed by the AAVE/ETH pair at 0.05581 ETH after an intraday increment of 1.74%.

TradingView

The token with a market rank of 53 is attempting a climb after it got affected by breakdowns multiple times. The EMA lines have started turning towards an upward direction as a sign of a future steady climb. The 50 runs and the current price action of AAVE and the 100 and 200 lines support the token. The token went down drastically in the form of a market correction, and since then, it has recovered 50% of the value from that fall. The current scenario of AAVE includes an external pullback that is ready to help the token bounce back to the top (refer to the dashed line). 

Oscillators are radiating positive signs, but investors are still unsure about AAVE’s future growth

TradingView

The 4-hour time frame chart explains the long-term prospects of AAVE. The token suffered from the bearish trend for long enough to see its price never recover before. But now, the current situation says that AAVE is trying its best to get back on the track of bullish upclimb. The MACD line is peeping above the zero level and the signal line. The RSI is residing inside the neutral zone for now and suggests a no buy/sell action. 

The resistance is at $263.843, and support is at $218.347. 

Conclusion- AAVE’s current sentiment shows that it is trying to achieve a breakout and stay consistent. However, its past data shows that the token never got bullish momentum for long. Nonetheless, one may consider day trading with AAVE by waiting for another dip for a short position. It is advisable to study the token before investing.

Resistance- $263.843

Advertisement

Support- $218.347

News Source

Advertisement
Continue Reading

Aave

Aave price analysis: Bearish trend aggravates as price experiences downfall to $225

Published

on

Downtrend lowers coin value to $225.6
Aave price analysis shows downtrend.
Support is present at $219.27 level.
The latest Aave price analysis shows signs of a downtrend, as the price underwent a substantial decline in the last 24-hours. If we analyze the market situation from a general overview, the past few weeks have proved to be highly supportive for the buyers. A constant downtrend has been on the rise, and a similar trend was observed even today, providing opportunities to the buyers waiting for a lower price, as the market price of AAVE/USD was brought down to a $225.57 low.

AAVE/USD 1-day price chart: Downtrend causes price depression up to $225
The one-day Aave price analysis confirms a bearish trend for cryptocurrency, as the AAVE/USD value is going through a drop. A considerable degree of downfall in coin value is being detected due to rising bearish pressure. If the sellers remain persistent, it can be predicted that the price will lower further in the next few weeks. The price is now standing at $225.57, which is a relatively lower level if we compare it to its moving average (MA) value of $253.78.

Aave price analysis: Bearish trend aggravates as price experiences downfall to $225 1

The volatility is expanding because of the continuous extension in the downward trend. The upper end of Bollinger Bands Indicator is now at $339.6 position, whereas its lower back is standing at $219.3 place. The Relative Strength Index (RSI) score has gone below the under-bought limit now as the score is touching 29.33.

Aave price analysis: Bears strike back by bringing price down to $225 again

The four-hour Aave price analysis dictates a downtrend as the bears have been maintaining their lead quite efficiently. Although the bulls managed to upgrade coin value in the earlier hours of the day, the bears have successfully secured their lead once again. The downtrend has resulted in price devaluation up to the $225.49 mark, encouraging the sellers. If we discuss the moving average indicator, then its value is currently $233.64.

Advertisement
Aave price analysis: Bearish trend aggravates as price experiences downfall to $225 2
AAVE/USD 4-hours price chart. Source: TradingView

The Bollinger bands average has moved down to $242.44 because of the constant decreasing trend. The upper band of Bollinger Bands Indicator is now touching the $268.65 mark, and the lower band is touching the $216.24 mark. The RSI curve is moving descendingly as the score is now 31.

Aave price analysis: Bearish trend aggravates as price experiences downfall to $225 3
AAVE/USD technical indicators chart. Source: TradingView

The technical indicators chart for AAVE/USD predicts a downtrend for the market, as the sellers have dominated it for the past few weeks. We can see 15 indicators settling on the selling position, ten occupying the neutral position, and one buying position.

The Moving Averages Indicator is following a definite bearish trend as well. Fourteen indicators are present on the selling side, while one indicator is on the neutral and zero indicators are on the buying side. On the other hand, the Oscillators are giving a neutral hint for today as nine oscillators are at the neutral point, and one indicator each is on the selling and buying points.

Aave price analysis conclusion

The one-day and four hours Aave price analysis are giving support for the sellers, as a consistent drop in AAVE/USD value is being observed. The price lowered to $225.57 in the last 24-hours, as the bears were leading the game even today. The hourly price chart displays red candlesticks as well, which means that the bears have been ruling the market for the last four hours.

News Source

Advertisement
Continue Reading

ATOM

ATOM, LINK, VET, AAVE & CRV To Breakout This Week! Here’s What Traders Can Expect

Published

on

As Bitcoin recovers from its free-fall and trades above $65,800, altcoins too have geared up. The defi protocols ETH and BNB are up by 1.5 and 1.2% respectively. XRP too is up by 1.5%. However, ADA and SHIB have failed to pick up as they trade in red as of now.

As the digital asset market prepares for a new phase of the bull cycle, crypto expert Michal van de Poppe has identified five altcoins that he believes will perform well.

Cosmos(ATOM)

The trader tells his 144,000 YouTube subscribers in a new strategy session that he’s keeping a close eye on Cosmos, a project dubbed “the internet of blockchains.” Van de Poppe believes Cosmos will trade in a wide range versus Bitcoin (ATOM/BTC) before bottoming out.

Advertisement

He says the entire region [0.00045 BTC – 0.00037 BTC valued $29.19 – $24] is definitely what he is looking for as a potential entry point in the near future.

At the time of writing, ATOM is trading at $33.08 up by 1.5% in the last 24 hours. The resistance on the upside is at $33.4 from here. 

Chainlink (LINK)

Chainlink, a decentralized oracle network, is the second altcoin on Van de Poppe’s radar. Chainlink (LINK/BTC) is still in a downturn, according to the crypto researcher, but he expects the pair to start rallying early next year.

Advertisement

“We may be nearing the conclusion of this corrective period, and we may want to split this one up and flip some levels before continuing.”

He explains that at this point, moving averages are also coming into play, resulting in this sideways motion, but once the moving averages are flipped, this is absolutely one he wants to purchase.

At the time of writing LINK is trading at $34.17 up by 0.6% in the last 24 hours. The immediate resistance on the upside is at $34.43, while the support to fall back to is at $32.83.

Curve(CRV)

The curve is the governance token of Curve Finance, a stable coin-focused decentralized exchange (DEX). The curve is exhibiting some momentum versus Bitcoin (BTC/CRV), according to the trader, but the pair must break through the barrier at 0.0001 BTC ($6.49) to continue bullishly.

Advertisement

At the time of writing, CRV is trading at $4.13 down by 2.8% in the last 24 hours. The immediate resistance on the upside is at $4.25 and the support to hold on to is at $4.6.

Aave(AAVE)

The loan and borrowing protocol Aave is ranked fourth on Van de Poppe’s list. AAVE/BTC, according to the crypto analyst, is just one barrier away from beginning a major surge.

He says he is anticipating acceleration all the way to the highs (0.01 BTC worth $646.56) if we break through this one (0.005690 BTC worth $367.89), most likely to the opposite side of the range.” We’ve seen this happen before.”

Advertisement

At the time of writing, AAVE is trading at $315.88 up by 0.7% in the last 24 hours. The resistance from here is at $318 and the support is at $311.

VeChain(VET)

VeChain, a supply chain management blockchain, is the last altcoin the analyst is looking at. According to Van de Poppe, VeChain is still in a slump against Bitcoin (VET/BTC), although support at 0.0000015 BTC ($0.09) could lead to a trend reversal.

He explains that we’re seeing lower highs and lower lows here, and he believes we’ll see a retest at these lower boundaries. Before we start expanding into a new cycle, you want to get a retest going in this region here, but obviously, a lovely one that is experiencing those cycles.

Advertisement

At the time of writing, VET is trading at $0.166868 up by 3.5% in the last 24 hours. It is currently at its 24 hour high after bouncing off from the $0.155240 level.

News Source

Advertisement
Continue Reading