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Aave price analysis: Bulls to define new support below $306 as downtrend extends


TL;DR Breakdown

  • The Aave price analysis is bearish today.
  • The price has been pushed down to $306.
  • Bulls to find new support to replace $307?

The Aave price analysis is giving bearish signals for today as well. The circumstances have continually favored the bears as the price levels are dropping at a regular rate. Right now, the price is present at $306 and is expected to move towards a lower position in the coming time. This might cause further damage to the cryptocurrency market value, which has already experienced a great downfall.

AAVE/USD 1-day price chart: The situation worsens for the sellers as the price seizes below $307

The 1-day price chart for Aave price analysis is predicting loss, as the price levels have fallen to a new level today as well. The drop has been taking place on a regular scale as today the price has breached the $307 support level. Currently, the AAVE/USD price is standing at the $306 level and is expected to move towards a lower range as well. Meanwhile, the moving average (MA) value for the price chart is found at the $319 level.

Aave price analysis: Bulls to define new support below $306 as downtrend extends 1
AAVE/USD 1-day price chart. Source: TradingView

The bearish trend has been quite stable for the past few days, and the volatility has been mild as well. The upper and lower Bollinger band values above are now at $340 and $304, respectively. The Relative Strength Index (RSI) score has gone downwards as well as it is now at a lower level of 43.

Aave price analysis: Recent developments and further technical indications

The hourly Aave price analysis is giving us negative hints regarding the recent trends. The price break out was upwards at the start of today’s session, but bears intervened in between and caused severe damage. The bulls are again trying to lift the price but haven’t covered the loss yet. This has resulted in a huge setback as the price is now present below the support level, i.e., $307. The current price is $306. The moving average for the given price chart is at a much stable position, i.e., at $306.6.

Aave price analysis: Bulls to define new support below $306 as downtrend extends 2
AAVE/USD 4-hours price chart. Source: TradingView

The Bollinger bands values have also changed since the volatility has increased, and now the upper value is at $332, and the lower value is at $294. The RSI score has improved recently as the RSI shows an upwards curve on the 4-hour chart at index 39 value.

Aave price analysis: Bulls to define new support below $306 as downtrend extends 3
AAVE/USD technical indicators chart. Source: Tradingview

As the bearish slope has continued today as well, the technical indicators chart is giving a negative indication for the buyers. There are a large number of indicators, i.e., 15 at the selling position, with only one settling at the buying and 10 indicators at the neutral positions.

The Moving Averages Indicators display almost similar results, with 13 indicators spotted at the selling position, one at the neutral, and one indicator found at the buying position. The Oscillators are also favoring the bears since the price movement has been downwards for a couple of days. Nine oscillators are found at the neutral position, while two oscillators are resting at the selling and zero at the buying positions.

Aave price analysis conclusion

From the above 4-hours and 1-day Aave price analysis, it can be confirmed that the price levels are entering the danger zone. The price flow has broken down different support levels as well, and new support is to be found below the $307 range if the bearish momentum continues. The AAVE/USD price is currently settled at the $306 mark, and it can be predicted that it will go down further from here as well. This might leave damaging effects on the price value so far as the selling momentum continues to go high. But some chances for recovery are also there as the RSI on the 4-hour chart is giving hints for improvement.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



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