Home
News
- 1 AAVE price faced rejection near $80.5, marking lower highs.
- 2 The trading volumes seems to decline, suggesting a slowed down interest in AAVE.
- 3 AAVE price rose by about 11% in a month’s duration.
The Pictorial
AAVE price formed a pennant pattern which approached a breakout. The price may take support from the rising lower trendline, formed due to higher lows. The retracing price may rise back after finding support and move out forming a bullish breakout. The projected surge may amplify after breaching the resistance near $80.5 and reach for the $92.00 price level.
AAVE price exhibits decreasing volatility as the Bollinger Bands contract to suggest a relaxed market. The EMA ribbon forms a bullish crossover to suggest an uptrend for the month of April. The price may target price levels beyond $90.00, as per the past swings. The volatility in OBV matches with AAVE price movement, suggesting the market lacks a solid regime.
AAVE price moved in a slightly bearish trend, as shown by the Super Trends, which can soon turn bullish, as the horizontal trendline hints at a rise. The MACD matches the wave-like pattern formed by the price action of AAVE, with recorded both buyer and seller participation. The RSI suggests the market to subtly drop back to half line, indicating declined buyer interest. The indicators paint a picture of present downtrend as well as the future bulls.
The Peephole
In the smaller time frame, AAVE price is encountering sellers that prevent the uptrend from occurring. The Super Trends formed an uptrend making the AAVE price, after which it marked a brief downtick. The combination of uptrend and downtrend, made AAVE price give out mixed signals in the smaller time frame. The MACD approached a convergence while recording descending buyer bars, to suggest the transition from sellers to buyers. The RSI rose back to 45-range, indicating a rectification in fall to sellers’ zone.
Conclusion
AAVE price can soon break out of the pennant pattern and reach price levels beyond $90.00. The relaxed market is unable to establish a strong influence and continues to move under mixed controls. After breakout, the bulls are anticipated to define the course of movement and map out the projected bull run. The holders can rely on the support $66.5 for the temporary fall in AAVE price.
Technical levels
Support levels: $66.50 and $56.00
Resistance levels: $80.50 and $92.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
