- AAVE price is trying to recover itself back inside the rising parallel channel over the daily price chart.
- AAVE crypto is still below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of AAVE/BTC is at 0.00399 BTC with an intraday drop of 1.93%.
The price of AAVE has dropped below a daily ascending parallel channel. In order to fly back, AAVE coin needs to draw in more customers. AAVE bulls must step up to prevent a big decline in the token price. AAVE coin price has to find support there in order to keep from dropping below $81.064. Investors in AAVE must watch the daily chart for any directional changes.
AAVE’s estimated price is currently $84.94 and over the past 24 hours, it has lost 2.57% of its market capitalization. The amount of trading has dropped by 28.70%. This suggests that sellers are seeking to build up their own stock in order to withdraw the AAVE coin and halt its comeback. Volume to market cap ratio is 0.1476.
Over the daily price chart, the AAVE coin price has dropped below the ascending parallel channel. To prevent a big decline across the daily price chart, the coin has to attract buyers. However, volume change is visible above normal and when bears are present. This shows that short selling pressure is there on the daily chart for AAVE cryptocurrency. AAVE cryptocurrency fell below the 20, 50, 100, and 200-day Daily Moving Average in the meantime.
What do Technical indicators suggest about AAVE?
The price of the AAVE coin has been fluctuating inside a rising parallel channel over the duration of the daily price chart. The token must move in the direction of the top trendline to break out of the rising pattern. Technical signs point to the AAVE coin’s downward trajectory.
The Relative Strength Index shows the AAVE currency’s upward trend. The RSI is moving back towards neutrality at 40. On the MACD, the AAVE currency is currently in a bearish rise. The MACD line is below the signal line after a negative crossover. AAVE investors should keep an eye on the daily chart for any changes in trend.
Conclusion
The price of AAVE has dropped below a daily ascending parallel channel. In order to fly back, AAVE coin needs to draw in more customers. AAVE bulls must step up to prevent a big decline in the token price. However, volume change is visible above normal and when bears are present. Technical signs point to the AAVE coin’s downward trajectory. The MACD line is below the signal line after a negative crossover. AAVE investors should keep an eye on the daily chart for any changes 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.
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