A fresh higher bottom has been made around $285, with a reaction higher late yesterday, making Aave price analysis bullish today. As a result, we expect AAVE/USD to soar even higher in the future, aiming for the $345 barrier level.

Aave's value has been steadily declining for the previous seven days, with some dramatic drops comparable to those seen in other cryptocurrencies this week. Following another test of the $280 support on April 4th, Aave plummeted to test that level again last evening, April 12th, establishing a higher bottom around $285 before surging up 25%+ overnight. The rise can be seen in the graph below.

4-hour chart of AAVE/USD: Will AAVE hit new highs today?

On the 4-hour chart, we can also observe Aave's price rebounding from a small loss yesterday, which was met with fresh bullish pressure. We can expect Aave to continue to increase and aim for the $345 barrier level if it closes over $285 on a daily basis.

There is also considerable support in the $300-305 level, which will likely keep price drops like the ones saw this week at bay. We feel that as purchasing pressure persists, this support level will strengthen, and that Aave will likely see further increases over the weekend.



In October, a bullish bias has been restored in Aave price action. In September, after a series of lower lows and highs, support was discovered at around $260.

We expect AAVE/USD to rally towards our next resistance at $345 over today and tomorrow’s sessions following further northbound momentum today. For now, though, let us go through the key levels we are watching.

First, support at $285 has to be broken for further bullish momentum to take control. A breach here would signal that bulls are back in control and that another rally is underway. If this level holds, bears will likely establish a new lower low around $255-$270 before any potential rallies occur.

Next, resistance lies at the psychological round number of $300. We expect this area to provide some resistance as it did yesterday evening when prices dropped down away from this barrier. A daily close above here will be needed to confirm further northbound action for AAVE/USD. For now, though, the buy zone remains between 290-290 – an area that also coincides with short-term 50% Fibonacci retracement.

Further resistance then lies at $345, where we expect bulls to continue pushing prices northbound before a reaction occurs. If you’re looking for a good entry point, consider waiting for a daily close above this level or around 293-294. A push-up from here could see prices rise as high as the recent top found at $409.

The RSI has also risen from 30 into positive territory at 53, indicating bullish momentum may be strengthening. However, given that there was no clear accumulation like there usually is before such sharp rises (the small green candle with low volume), we could see these gains start to slow down as we approach $306.

Aave Price Analysis: Conclusion

Although it has been a sharp fall in price over the week, Aave is set to rally further based upon the technicals. We anticipate that AAVE/USD will spike t $310 in the next two days.

Disclaimer. The information provided is not intended to be used as trading advice. We accept no responsibility for any investments made as a result of the information on this page. Before making any financial decisions, we strongly advise conducting independent research and/or consulting with a knowledgeable professional.