AAVE/USDT Sees a Moderate Recovery

After Bitcoin dipped below the $50,000 mark, it started a recovery move. This most interestingly has spread across the crypto market, causing varying degrees of upside recovery, such as seen in the AAVE/USDT daily market. Let’s further examine what may likely occur in this market.

AAVE Statistics:
Current AAVE Price: $102.12
AAVE Market Cap: $1,508,543,223
AAVE Circulating Supply: 14,898,812
AAVE Total Supply: 16 million
AAVE CoinMarketCap Rank: 47

Key Price Levels:
Resistance: $120.00, $140.00, and $160.00
Support: $100.00, $80.00, and $60.00

AAVE/USDT Sees an Upside Recovery of More than 10%

Price action in the AAVE daily market has, as of today, recorded a significant price increase. This caused the price to rise above some important technical landmarks, positioning it for more upside moves. The last price action on this chart can be seen as having a large green body with a longer lower shadow.

Additionally, this token now trades above all the Exponential Moving Average (EMA) lines. Consequently, this points out the fact that upside forces are dominant. The lines of the indicator are still in the oversold region, but a minor deflection can be seen on the leading line of this indicator.

The AAVE Market Has a High Upside Propensity

Price activity in the AAVE/USDT 4-hour market can be seen rising from the $80.00 mark to above the $100.00 price level. This happened within a few hours and was assisted by the weighted price volatility in this market. At this point, the AAVE token now trades above all the EMA indicator lines, even on the 4-hour market.

Also, the SRSI indicator lines can be seen rising steeply into the oversold region. Consequently, upside prospects stay consistent in this market and may bring the market to hit the resistance level at the $110.00 mark shortly. this is because more traders may decide to use crypto signals targeting that mark.

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