AAVE price analysis: AAVE token tries to cross the 200-day EMA

  • AAVE token price has recaptured the 20 EMA on the daily timeframe chart
  • The AAVE / BTC pair traded at 0.006583 BTC with a gain of 4.75%
  • The 24-hour trading volume in AAVE tokens is $ 331.5 million

On September 29th, the AAVE token price bounced off the $ 260 support with a morning star pattern. The price is currently trying to break the nearest resistance at $ 311, which coincides with the trend that defines the 200 EMA. If the price succeeds in breaking out of these levels decisively, AAVE traders will receive a strong signal of a bull rally.

In terms of the EMAs, the AAVE token is trading below the critical EMAs 50,100 and 200, indicating a bearish trend formation. However, the price of the token has exceeded the 20 EMA line.

The RSI (NEUTRAL) the current value is 50, which indicates a neutral mood in the AAVE token. However, the RSI has shown a sharp rise in value in relation to the coin’s price movement.

AAVE Token Price Showcase A break out of a small range

The AAVE token price showed a breakdown from a short range in the 4 hour timeframe. The key SR levels in this range are USD 260 and USD 311. As price tries to break out of the overhead of this range, crypto trading can be an excellent entry point for them. The current price of the AAVE token is $ 318 with an intraday gain of 5.07%.

the moving average convergence / divergence(MACD) indicator (BULLISH) shows that both the MACD and signal lines have just crossed the neutral zone (0.00), suggesting bullish momentum in the price.

Diploma: From a technical point of view, the AAVE token suggests a good opportunity to continue its upward trend. And as mentioned above, the token price is also trying to recapture the 200-day EMA line. The crypto trade should wait for the price to close a candle above this level to get proper confirmation of a long trade.

support: $ 260

Resistance: $ 311, $ 347

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