https://ift.tt/Ejpw7iy price analysis: AAVE/USD struggles past the $170 mark

TL;DR Breakdown

• Aave price analysis is bullish today.
• Strongest resistance is present at $209.
• Trading value of AAVE is $170 today.

The Aave price analysis reveals the cryptocurrency to be following an unusual movement where significant fluctuations have been occurring for the past few days. The price of AAVE/USD had crossed the $172 mark and reached $173 on February 5, 2022; before crashing to $164, the price suffered a flash crash on the same day, which further devalued the price. On February 6, 2022, AAVE regained positive momentum and attained some of its lost value. Gradually increasing the price reached $170, which is the current trading price for AAVE. Aave has been up 0.04% in the last 24 hours, with a trading volume of $146,947,068. AAVE currently ranks at #51 with a live market cap of $2,295,298,590.

AAVE/USD 4-hour price analysis: Latest developments

The Aave price analysis has revealed the market volatility following an increasing trend, making the cryptocurrency’s price more exposed to experience variable change on either extreme. The upper limit of the Bollinger’s band is present at $177, which serves as the strongest resistance for AAVE. Conversely, the lower limit of the Bollinger’s band is available at $143, which represents the strongest support for AAVE.

The AAVE/USD price appears to be crossing over the curve of the Moving Average, indicating a bullish market trend. In the last few hours, the market has seen a strong bullish movement with minor fluctuations towards the bearish zone. However, the market seems downright bullish now and will likely continue its activity. In addition, the price seems to move in a linear direction, indicating neutral behavior not falling towards either extreme.

The Relative Strength Index (RSI) is 62, and this value indicates a relatively overvalued cryptocurrency. The RSI path appears to follow a straightforward, stable direction, which shows that the cryptocurrency shows no signs of further inflation. Instead, the price will remain stable until the score fluctuates. The consistency of the RSI score is a sign of the buying and selling activitys’ equivalence.

Aave price analysis for 1-day: Closing market

The Aave price analysis shows market volatility following a declining trend, showing fewer signs of falling on the increasing or decreasing side. This means that the Aave prices subject to fluctuations will be less likely to experience volatile change. The upper limit of the Bollinger’s band exists at $209, which acts as the strongest resistance for AAVE. Conversely, the lower limit of the Bollinger’s band is available at $119, representing the strongest support for AAVE.

The AAVE/USD price appears to be crossing over the Moving Average curve, indicating a bullish trend. The market remains bullish, with declining volatility showing consistent behavior maintaining the movement. We can observe the AAVE/USD price path following an upwards direction towards the resistance. The two might soon meet and cause a breakout in the market, leading to a reversal. However, the market currently shows consistent signs, so a breakout is unlikely.

The Aave price analysis reveals that the Relative Strength Index (RSI) is 47, which means that the cryptocurrency shows no signs of falling to either extreme. The cryptocurrency currently falls in the lower neutral region. The RSI can be seen following an upwards movement that reflects an increasing market trend and movement towards stability.

Aave Price Analysis Conclusion

The Aave price analysis concludes that the cryptocurrency follows a bullish trend. The price reached $175 on February 5, 2022; however, the price has been struggling at the $170 mark now. The current price of Aave is $170. The cryptocurrency is showing signs of consistency. The market is currently following a bullish trend which shows signs of raising the value of AAVE to a significant degree.

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.