By Nathan Ferguson
- AAVE price presents upside actions.
- The altcoin gained more than 10%.
- Analysts expect AAVE to extend the bullish run in the coming 24 hours
Aave price outlook reveals bulls launched an impressive upward mover, triggering more than a 10% increase within the past 24 hours. While writing this content, AAVE traded at $93.65 and seemed ready to extend higher.
AAVE has the initial resistance at $95, whereas reliable support stands at $80. The token’s trading volume is $181,539,810 while the market capitalization hovered at $1,263,641,904.29. Meanwhile, the overall crypto market presents upside moves as most digital assets in the top 50 crypto-list trade in the green.
AAVE 4Hr Analysis – Bulls Control the Marketplace
According to the 4hr chart, bulls are in control of the AAVE market as they drive prices higher. The MAs present perfect alignments, showing a massive uptrend in the alternative token. The 50 EMA stayed beyond the MA 20, above the 10 Moving Average. Such an outlook confirms a bullish trend.
For now, the Relative Strength Index swayed within the overbought situation at 74.95. That means the altcoin might witness a brief correction, but bulls seem to have the necessity to push towards the $100 highs.
The 4hr Moving Average Convergence Divergence currently hovers in the bullish territory as the MACD is beyond the signal line. That authorizes continued uptrends in the coming few hours. The market witnessed colossal buying momentum, with bulls pushing AAVE higher. The token seems prepared to test the value area at $100 in the coming 24 hours.
24Hr Timeframe – AAVE to Touch $100 Soon
The daily chart shows AAVE changing hands around the $93 mark. The token has recorded a massive upsurge, gaining more than 50% since the previous week. Meanwhile, bulls dominate the space as they drive prices higher. Also, the moving average on the daily chart presents perfect alignments, confirming a bullish bias.
The RSI stayed in the overbought zone at 70.40, showing potential slight corrections, but bulls will most likely respond with upsurges towards $100. Also, the MACD hovered beyond the Signal line while in the bullish territory. Prices approach the top Bollinger Band, confirming an overbought market.