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Aave Price Analysis: AAVE rejects upside at $280, more downside to follow?

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  • 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.

Aave Price Analysis: AAVE rejects upside at $280, more downside to follow? 1
Cryptocurrency heat map. Source: Coin360

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 Analysis: AAVE rejects upside at $280, more downside to follow?
AAVE/USD 4-hour chart. Source: TradingView

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.

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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.

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Arweave

Arweave Price Analysis: AR Coin Price Consolidates After A Gain Of 100% Within A Week

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  • 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

Source: Trading view

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.

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Conclusion

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.

Technical Levels

Major Support:$25

Major Resistance:$50

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