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- Aave price is trying to gather support from bulls over the daily price chart.
- AAVE crypto slipped below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of AAVE/BTC is at 0.004004 BTC with an intraday drop of 5.48%.
AAVE price has fallen below a rising parallel channel over the daily. AAVE coin must attract more buyers in order to soar back. AAVE bulls must come forward to save the token from falling significantly. AAVE coin price must gather support at $81.064 to avoid falling below it. AAVE investors need to wait for any directional change over the daily chart.
AAVE price is presently approximated at $87.54 and has lost 11.87% of its market capitalization in the last 24-hour period. However, trading volume has increased by 13.04%. This indicates that buyers are trying to accumulate themselves to register the AAVE coin’s recovery phase. Volume to market cap ratio is 0.1874.
AAVE coin price has fallen below the rising parallel channel over the daily price chart. The token must gather support from the buyers in order to avoid falling significantly over the daily price chart. However, volume change can be seen above average and under the influence of bears. This indicates that AAVE crypto is facing short selling pressure over the daily chart. Meanwhile, AAVE crypto slipped below 20, 50, 100 and 200-days Daily Moving Average.
What do Technical Indicators suggest about AAVE?
Over the course of the daily price chart, the price of the AAVE coin has been varying inside a rising parallel channel. To escape the rising pattern, the token must move toward the top trendline. Technical indicators suggest the downtrend momentum of AAVE coin.
The downstream momentum of the AAVE currency is displayed by the Relative Strength Index. At 41, the RSI is almost in oversold territory. The AAVE currency is presently in a bearish rally on the MACD. After a negative crossover, the MACD line lies below the signal line. Investors in AAVE should monitor the daily chart for any shifts in trend.
Conclusion
AAVE price has fallen below a rising parallel channel over the daily. AAVE coin must attract more buyers in order to soar back. AAVE bulls must come forward to save the token from falling significantly. AAVE coin price must gather support at $81.064 to avoid falling below it. However, volume change can be seen above average and under the influence of bears. Investors in AAVE should monitor the daily chart for any shifts in trend.
Technical Levels
Support Levels: $80.00 and $78.00
Resistance Levels: $100.00 and $110.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
