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While the AAVE/USDT market has posted only minimal gains, it is still performing relatively well, especially considering that Bitcoin, the leading market indicator, is currently experiencing a downturn. As a result, the Aave token has risen to the second spot on today’s list of top crypto movers.
AAVE Statistics:
Current Price: $177.87
Market Capitalization: $2.62B
Circulating Supply: 15.09M
Total Supply: 16M
CoinMarketCap Rank: 36
Key Price Levels
Resistance: $200, $250, $300
Support: $150, $100, $50
AAVE/USDT Breaks Above the 20-Day MA
In the ongoing session, AAVE/USDT is trading in the green at the time of writing, maintaining its position above the 20-day Moving Average (MA) curve.
Meanwhile, the Stochastic Relative Strength Index (RSI) appears slightly converged, with its terminal lines trending sideways. At this point, price action suggests a mildly positive outlook.
Aave Stays Above Long-Term Support
On the AAVE/USDT 4-hour chart, price action remains above the 100-day MA line. The last candlestick on the chart features a longer lower shadow, indicating that the token is holding above this support level. Meanwhile, the market recently rebounded off resistance at the 20-day MA line.
The Stochastic RSI lines are trending upward but appear to be moving faster than the actual price action. Given this momentum, traders may anticipate continued upward movement toward the $180 and $185 price levels.
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