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- AAVE price is trading with downtrend momentum inside the rising parallel channel over the daily price chart.
- AAVE crypto is trading above the 20, 50, and 100-day Daily Moving Average.
- The pair of AAVE/BTC is at 0.004452 BTC with an intraday drop of 2.45%.
The AAVE price is declining sharply and rapidly on the daily price chart. The token first traded below a line with a downward slope but was able to move out of the pattern and into the channel with an upward slope. The current increasing momentum needs to be sustained for the token to cross the daily chart. AAVE investors must hold off investing until the token gathers momentum and achieves a respectable resistance level. AAVE coin is currently trading halfway between the top and lower trendlines of the rising parallel channel. AAVE bulls must provide the necessary upward momentum for the token to move toward the top trendline.
The current estimated price of AAVE Crypto is $109.24, and on the most recent day, its market capitalization fell by 2.33%. In the course of intraday trading, the number of trades fell by 32.47%. This demonstrates how AAVE bears are attempting to increase the strength of the downtrend in order to drag AAVE towards the lower trendline. The volume to Market capitalization ratio is 0.08918.
On the daily chart, the price of the AAVE coin is fluctuating inside a rising parallel channel. As the coin is currently traveling downstream and approaching the trendline, AAVE bulls must keep close by. To lessen the volatility brought on by bears during the intraday trading session, the AAVE coin’s volume change, which is now below average, needs to improve. The AAVE coin’s price has to maintain its upward pace after its breakthrough.
What do Technical Indicators suggest about AAVE?
The price of the AAVE coin has been fluctuating inside a rising parallel channel over the daily price chart. The token must advance toward the top trendline in order to break free of the rising pattern. The momentum of the fall within the parallel channel is indicated by technical indicators for the AAVE coin.
The relative strength index shows the AAVE coin’s downstream momentum. The RSI is getting close to neutrality at 59. On the MACD, the AAVE currency is currently in a consolidation period. The MACD line is beneath the signal line, however with a narrower margin. AAVE investors need to keep an eye on the daily chart for any changes in trends.
Conclusion
The AAVE price is declining sharply and rapidly on the daily price chart. The token first traded below a line with a downward slope but was able to move out of the pattern and into the channel with an upward slope. The current increasing momentum needs to be sustained for the token to cross the daily chart. AAVE investors must hold off investing until the token gathers momentum and achieves a respectable resistance level. To lessen the volatility brought on by bears during the intraday trading session, the AAVE coin’s volume change, which is now below average, needs to improve. The AAVE coin’s price has to maintain its upward pace after its breakthrough. The momentum of the fall within the parallel channel is indicated by technical indicators for the AAVE coin. AAVE investors need to keep an eye on the daily chart for any changes in trends.
Technical Levels
Support Levels: $105.00 and $95.00
Resistance Levels: $115.00 and $120.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
