- Aave price analysis is bearish today.
- AAVE/USD is rejecting upside around $275.
- Closest support at $255.
Aave price analysis is bearish today as we currently see upside rejected after a rally this morning. Therefore, AAVE/USD will likely set another lower high before continuing to move lower later today.
The overall market has continued to trade in a bearish momentum over the last 24 hours. Bitcoin lost 2 percent, while Ethereum 1.02 percent. Meanwhile, Crypto.com Coin (CRO) is still the top performer, with a gain of 12 percent.
Aave price movement in the last 24 hours: Aave rallies higher, fails to reach previous high
AAVE/USD traded in a range of $257.51 – $277.45, indicating strong volatility over the last 24 hours. Trading volume has increased by 70.92 percent, totaling $367.5 million, while the total market cap trades around $3.67 billion, ranking the coin in 51st place overall.
AAVE/USD 4-hour chart: AAVE to move lower again?
On the 4-hour chart, we can see the Aave price action currently rejecting further upside, likely leading to another move lower later today.
Aave price action has continued to decline over the past week. From the previous major swing high around $345 set on the 9th of November, AAVE/USD has declined by over 25 percent to the current low at $255.
After a slightly higher low was set above $255 yesterday, the market saw bullish momentum return, leading AAVE/USD higher overnight. However, after a rally overnight, bulls failed to reach the previous local swing high at $280.
Over the past hours, rejection for further upside can be seen around $275, likely meaning that another lower high has been set. From there, we expect the Aave price action to move lower again and likely break below the $255 support.
Aave Price Analysis: Conclusion
Aave price analysis is bearish today as we expect a reversal to follow over the next hours, leading back to the downside. Therefore, AAVE/USD should head to test the previous low at $255 next.
While waiting for Aave to move further, see our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.
Arweave Price Analysis: AR Coin Price Consolidates After A Gain Of 100% Within A Week
- AR coin price is currently in a downtrend on the daily chart and can soon see a low of $30. .In contrast ,Arweave price is trading with a loss of more than 10% in the intraday session.
- Technical Indicators of the AR price suggests a weak downtrend for upcoming days . Meanwhile, AR/BTC pair is down by more than 9% in the intraday session
Why To Invest In AR Coin?
AR coin price is currently observing a downtrend on the daily chart and can soon hit the support of $30. Arweave price is trading near the value of $41 and has seen a loss of more than 10% in the past 24 hours .Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. They describe themselves as a collectively owned harddrive that never forgets.
The project was there for a long time but the profit sharing tokens were formed in 2020 .Arweave is focused on building a sustainable ecosystem around the network. The AR/BTC pair is also in a downtrend but can soon revert to the uptrend. One can invest in AR as per their risk capacity and price action
Technical Indicators Of Ar Coin Price Hints Towards A Downtrend For The Future
Arweave coin price is currently seeing an upside momentum on the daily chart and can hit a low in the future . It has up by more than 27% in the weekly time frame
On the daily technical chart the bullish momentum of AR has come to a halt after a strong bull run. The resistance of the Arweave while going in an upside trend can be seen near $50. In contrast one can see the bounceback region near $25
The price is moving above 50 and100 Daily Moving Average, with a positive crossover in the past. The 100MA line is near $17.5 , acting as a temporary support zone. AR price is forming a bearish pattern on the daily chart.. If the price goes 15% below the current level then a strong downside momentum can be seen. AR/BTC pair can also observe new highs in the future.
Ar coin price is currently in a slump but can soon revert to uptrend for a new high. AR/BTC pair can also see a new high in the future.An Investor should do their due diligence before investing.