Aave Price Analysis: AAVE finds support at $290, reversal to follow?

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    TL;DR Breakdown

    • Aave price analysis is bullish today.
    • AAVE/USD bounced from $290 support yesterday.
    • Closest resistance at $310.

    Aave price analysis is bullish today as support was found at $290 yesterday, leading to a reaction higher today. Therefore, we expect AAVE/USD to continue higher over the next 24 hours.

    Aave Price Analysis: AAVE finds support at $290, reversal to follow? 1
    Cryptocurrency heat map. Source: Coin360

    The overall market traded with mixed results over the last 24 hours. Bitcoin gained 1.49 percent, while Ethereum lost 0.08 percent. Meanwhile, Fantom (FTM) is among the best performers from the major altcoins, with a gain of 13 percent.

    Aave price movement in the last 24 hours: Aave finds support at $290, tests upside

    AAVE/USD traded in a range of $290.35 – $300.58, indicating low volatility over the last 24 hours. Trading volume totals $167 million, down by 14.26 percent. The total market cap trades at $3.93 billion, ranking the coin in 45th place overall.

    AAVE/USD 4-hour chart: AAVE looking to set a higher low at $290?

    On the 4-hour chart, we can see Aave price action reacting from the $290 support, likely leading to more upside over the next 24 hours. 

    Aave Price Analysis: AAVE finds support at $290, reversal to follow?
    AAVE/USD 4-hour chart. Source: TradingView

    Aave price action has seen sideways action so far in October. At the beginning of the month, a rally to $325, where a higher high was set, established the trading range’s upper boundary.

    After a retracement and consolidation below $310 previous resistance, another attempt to move above the $325 was seen on the 8th of October. The move higher was followed by a strong retracement to $270.

    Since then, the Aave price action has slowly moved back higher, setting a slightly lower high around $320. Over the past days, a retracement was seen towards $290, where a higher low will likely be set, leading AAVE/USD towards further upside later this week.

    Aave Price Analysis: Conclusion 

    Aave price analysis is bullish today as a new higher low was set yesterday at $290. Therefore, unless the $290 mark is broken to the downside, we expect AAVE/USD to continue higher over the next 24 hours.

    While waiting for Fantom to move further, read our guides on LTC wallets, Gero wallets, and  DeFi wallets.

    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.