The bulls could take charge even now if the altcoin moved above the immediate price ceiling. Broader market weakness might not let the major altcoins secure gains on their respective charts. The altcoin will continue to lose value on the daily chart if the price doesn’t manage to stop receding from the $78 mark.<\/p>\n
Aave Price Analysis: One-Day Chart<\/h2>\n![\"Aave\"](\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/AAVEUSD_2023-03-01_00-28-53.png?resize=1816%2C743\")
Aave was priced at $79.40 on the one-day chart | Source: AAVEUSD on TradingView<\/a><\/figcaption><\/figure>\nThe altcoin fell from the $80 mark and was exchanging hands at $79.40 at the time of writing. Aave was close to its support level of $78. Falling below that level will cause Aave to park at $74 and then at $64. Aave’s two crucial price floors stood at $78 and $64.<\/p>\n
The overhead resistance for Aave was $82 and then $89. If the altcoin breaches the $89 mark, the bulls will take over the market’s price action. The amount of Aave traded in the last session was red after the coin noted a fall in buying strength.<\/p>\n
Technical Analysis<\/h2>\n![\"Aave\"](\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/AAVEUSD_2023-03-01_00-29-31.png?resize=1816%2C743\")
Aave registered low buying pressure on the one-day chart | Source: AAVEUSD on TradingView<\/a><\/figcaption><\/figure>\nThe Relative Strength Index slipped below the half-line to demonstrate bearishness in consonance. The presence of buyers was lower than that of sellers, according to the indicator. Buyers seemed to have lost confidence in the asset as Aave continued to trade in a range over the past two months.<\/p>\n
Aave price also fell below the 20-Simple Moving Average (SMA) line. This reading meant that sellers were driving the price momentum in the market. Only if Aave toppled over the $80 mark would the price of the asset move above the 20-SMA line, which would then start a recovery for the altcoin.<\/p>\n![\"Aave\"](\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/AAVEUSD_2023-03-01_00-29-57.png?resize=1816%2C743\")
Aave displayed sell signals on the one-day chart | Source: AAVEUSD on TradingView<\/a><\/figcaption><\/figure>\nAt press time, the altcoin also formed sell signals, meaning the price could dip again soon. The Moving Average Convergence Divergence depicted red histograms underneath the neutral line indicating that traders could sell the asset. The indicator reads price momentum and trend reversals.<\/p>\n
The altcoin fell from the $80 mark and was exchanging hands at $79.40 at the time of writing. Aave was close to its support level of $78. Falling below that level will cause Aave to park at $74 and then at $64. Aave’s two crucial price floors stood at $78 and $64.<\/p>\n
The overhead resistance for Aave was $82 and then $89. If the altcoin breaches the $89 mark, the bulls will take over the market’s price action. The amount of Aave traded in the last session was red after the coin noted a fall in buying strength.<\/p>\n
Technical Analysis<\/h2>\nAave registered low buying pressure on the one-day chart | Source: AAVEUSD on TradingView<\/a><\/figcaption><\/figure>\nThe Relative Strength Index slipped below the half-line to demonstrate bearishness in consonance. The presence of buyers was lower than that of sellers, according to the indicator. Buyers seemed to have lost confidence in the asset as Aave continued to trade in a range over the past two months.<\/p>\n
Aave price also fell below the 20-Simple Moving Average (SMA) line. This reading meant that sellers were driving the price momentum in the market. Only if Aave toppled over the $80 mark would the price of the asset move above the 20-SMA line, which would then start a recovery for the altcoin.<\/p>\nAave displayed sell signals on the one-day chart | Source: AAVEUSD on TradingView<\/a><\/figcaption><\/figure>\nAt press time, the altcoin also formed sell signals, meaning the price could dip again soon. The Moving Average Convergence Divergence depicted red histograms underneath the neutral line indicating that traders could sell the asset. The indicator reads price momentum and trend reversals.<\/p>\n
The Relative Strength Index slipped below the half-line to demonstrate bearishness in consonance. The presence of buyers was lower than that of sellers, according to the indicator. Buyers seemed to have lost confidence in the asset as Aave continued to trade in a range over the past two months.<\/p>\n
Aave price also fell below the 20-Simple Moving Average (SMA) line. This reading meant that sellers were driving the price momentum in the market. Only if Aave toppled over the $80 mark would the price of the asset move above the 20-SMA line, which would then start a recovery for the altcoin.<\/p>\n At press time, the altcoin also formed sell signals, meaning the price could dip again soon. The Moving Average Convergence Divergence depicted red histograms underneath the neutral line indicating that traders could sell the asset. The indicator reads price momentum and trend reversals.<\/p>\n