- The trading volume of AAVE in the last 24hr at the time of writing this article is +15.96%
- The price of AAVE/BTC and AAVE/ETH at the time of writing this article is 0.00673BTC and 0.09368ETH respectively
- 50MA crossing 200MA in a downwards direction
LONG TERM VIEW:-
In the daily chart time interval we can see that MACD has started showing the green candle as the MACD line is crossing the Signal line as we can see that means a change in the sentiment of the people. In addition to that we can see the RSI is in the neutral zone near the 51 and we can see that the RSI is pointing towards the overbought zone (70).lastly we can see the moving average as we can see that 50MA is heading towards the 200MA where we can see a death crossover, which is a very bearish sign. If the crossover is complete then the trend can become very bearish.
SHORT TERM VIEW:-
In the 4hr time interval we can see that the RSI is already in the Overbought zone near the 72.06, meaning the coin is now overbought. The price still goes up but then the price is bound to go down. In addition to that we can see that MACD is showing a green histogram as the MACD line is above the Signal line and there is no sign of the line to change its direction. In the end we can see the 50MA is below the 200MA which is a huge bearish sign for the investor and for traders too.
CONCLUSION:-
Looking at the both long term and short term we can see that the 50MA is crossing towards the 200MA it is a very bearish sign. The bulls are trying to push the price up but they lack volume. The price will go up a little bit but we can see the change in the sentiment of the people where the trend is going bearish.
RESISTANCE:- $350,$400
SUPPORT:-$300,$250