Aave
AAVE Price Analysis:Bulls hold the reins as Aave rises
•AAVE/USD is currently priced at $77.44 and has increased by 4.81% over the past day
•The technical indicators suggest a continuation of the bullish momentum
•The trading volumes have increased by 35.86% over the past day
Short Term View: Aave eyes upswing to $80
The Aave price today is $77.44 USD with a 24-hour trading volume of $101,505,975 USD. Aave is up 4.81% in the last 24 hours. The trading volumes have increased over the past day amid increased investor activity whereas the Volume to Market Cap Ratio stands at 0.09301 for the altcoin.
Aave price has been in an uptrend for over a week now, with its price increasing significantly. However, the momentum seems to be fading as volume slowly fades. The momentum is still favoring the bulls as the Aave Price is transacting above the 20,50 SMA on the four hour chart.The short term moving averages have moved over the long term 200 SMA as well, which is a major incentive for the bulls to continue this bullish run.The resistance for the altcoin is placed at $80 whereas the support for the altcoin resides at $75 in the event of the bears staging a comeback.
Long Term View for Aave
The RSI for Aave is currently transacting at 53.47 and has diverged away from the 14-day average line and, thus, giving off a bullish signal. Aave price looks to be good value for money as the uptrend is likely to continue in the days ahead. It is expected that the presence of the bullish crossover as well the swift movement of the MACD and signal lines towards the positive region will provide the legs for the continuation of the Aave bullish rally.
Conclusion
The Aave price is currently in an uptrend while the technical indicators also point towards the continuation of the bullish wave which can push the price to a new high. One can forecast huge gains in Aave in the near term.
Support: $80-$84
Resistance: $75-$70
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
