Aave Cryptocurrency Forecast
Big movements in Aave cryptocurrency price on Wednesday moving 11.96% between high and low
(Updated on May 01, 2024)
The Aave cryptocurrency price gained 0.0487% on the last trading day (Wednesday, 1st May 2024), rising from $82.08 to $82.12. During the last trading day the cryptocurrency fluctuated 11.96% from a day low at $80.76 to a day high of $90.42. The price has risen in 6 of the last 10 days but is still down by -10.19% for this period. Volume fell on the last day by -75 million shares and in total, 12 million shares were bought and sold for approximately $1.01 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency has broken the very wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $82.17. A reaction back to this level may hold a second chance to get out before further falls.
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AAVEUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 0.0487%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The cryptocurrency should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Aave cryptocurrency holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $88.81 and $103.89. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Aave cryptocurrency
Aave finds support from accumulated volume at $82.08 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $9.66 between high and low, or 11.96%. For the last week, the cryptocurrency has had daily average volatility of 6.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AAVEUSD) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Aave to open at $84.43, and during the day (based on 14 day Average True Range), to move between $73.69 and $90.55, which gives a possible trading interval of +/-$8.43 (+/-10.26%) up or down from last closing price. If Aave takes out the full calculated possible swing range there will be an estimated 20.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $82.08 (0.05%) than the resistance at $84.70 (3.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Aave cryptocurrency A Buy?
The Aave cryptocurrency holds several negative signals and despite the positive trend, we believe Aave will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this cryptocurrency. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.025 Sell Candidate Upgraded
Predicted Opening Price for Aave of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $84.43 ( 2.82%) | $82.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAVEUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.09 | 14.58 % | |
| R2 | 90.40 | 10.09 % | ||
| R1 | 88.12 | 7.31 % | ||
| Current price: | 82.12 | |||
| Support | S1 | 80.74 | -1.68 % | |
| S2 | 78.46 | -4.45 % | ||
| S3 | 74.77 | -8.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.39 | 23.47 % | |
| R2 | 94.59 | 15.19 % | ||
| R1 | 84.70 | 3.14 % | ||
| Current price | 82.12 | |||
| Support | S1 | 82.08 | -0.0487% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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