The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us
  • Login
The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us
The Market Periodical
Home Cryptocurrency

AAVE Price Analysis: Wait for this Signal if you are Bullish over AAVE!

Antonio K Smith by Antonio K Smith
June 29, 2022
in Cryptocurrency, Markets, News
0
AAVE Price Analysis: Wait for this Signal if you are Bullish over AAVE!
203
SHARES
1.6k
VIEWS
Share on FacebookShare on Twitter
  • AAVE price is declining through a falling wedge pattern over the daily price chart.
  • AAVE crypto fell below 20, 50, 100 and 200-days Daily Moving Average.
  • The pair of AAVE/BTC is at 0.003007 BTC with an intraday drop of 6.74%.

AAVE coin price has been declining through a falling wedge pattern over the daily price chart. However, as a result of pressure from short sellers, the token is currently under the total influence of bears. Over the daily price chart, the token has been dropping since 2021 and is currently falling. The price movement of the AAVE coin indicates that AAVE bulls attempted to avoid the falling wedge pattern but were unable to hold at the edge of the pattern. For the token to break out of the falling trend, AAVE bulls must accumulate themselves at a large rate. 

AAVE price is presently CMP at $60.22 and has lost 10.95% of its market capitalization in the last 24-hour period. However, trading volume has slightly increased by 3.43% in the intraday trading session. This means buyers are getting involved in the trade for AAVE coin. Volume to market cap ratio is 0.1697.

Related articles

Top 3 Solana Projects to Keep an Eye on to Stay Ahead of Investors

Top 3 Solana Projects to Keep an Eye on to Stay Ahead of Investors

October 2, 2023
How Is Cryptocurrency Revolutionizing The Gambling Industry?

How Is Cryptocurrency Revolutionizing The Gambling Industry?

October 2, 2023
Source: AAVE/USD by TradingView

AAVE coin price falters to gain steady uptrend momentum over the daily price chart. However, the token is still declining through a falling wedge pattern and is returning from the upper trendline over the daily price chart. AAVE seriously needs to attract more buyers in order to escape the falling wedge pattern. However, volume change can be seen below average and needs to grow for AAVE to recover itself.

Support on the lower end is at $45.21 and resistance on the higher side is at $70.00.

What do Technical Indicators Suggest about AAVE?    

Source: AAVE/USD by TradingView

AAVE coin price is trying to sustain at the upper trendline of the falling wedge pattern over the daily price chart. The token is trying to gain support from the buyers and is registering its return from the upper trendline. Technical indicators suggest the downtrend momentum of AAVE inside the falling wedge pattern. Relative Strength Index showcases the downtrend momentum of AAVE coin. RSI is at 39 and is below neutrality now AAVE investors need to wait for any directional change over the daily price chart to conclude the momentum of AAVE coin.

MACD exhibits the downtrend momentum of AAVE coin. The MACD line is heading towards the signal line for a negative crossover.

Conclusion

AAVE coin price has been declining through a falling wedge pattern over the daily price chart. However, as a result of pressure from short sellers, the token is currently under the total influence of bears. Over the daily price chart, the token has been dropping since 2021 and is currently falling. However, volume change can be seen below average and needs to grow for AAVE to recover itself. Technical indicators suggest the downtrend momentum of AAVE inside the falling wedge pattern. RSI is at 39 and is below neutrality now AAVE investors need to wait for any directional change over the daily price chart to conclude the momentum of AAVE coin.

Technical Levels

Support Level: $45.21

Resistance Level: $70.00 

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.        

Share81Tweet51
Antonio K Smith

Antonio K Smith

Antonio is a travel photographer by profession and came across the Crypto world during his profession. Since then his love, knowledge and interest towards the technology have increased. He brings his passion to create in his articles.

Related Posts

Top 3 Solana Projects to Keep an Eye on to Stay Ahead of Investors

Top 3 Solana Projects to Keep an Eye on to Stay Ahead of Investors

by Ritika Sharma
October 2, 2023
0

Solana is a fast, scalable, and secure blockchain that is attracting attention from investors and developers.Solana's total value locked (TVL)...

How Is Cryptocurrency Revolutionizing The Gambling Industry?

How Is Cryptocurrency Revolutionizing The Gambling Industry?

by Nancy J. Allen
October 2, 2023
0

The advent of cryptocurrency has brought significant changes to the gambling industry. It has created a new sector combining financial innovation...

Fintech In The Front, DeFi In The Back-Igniting A Crypto Revolution

Fintech In The Front, DeFi In The Back-Igniting A Crypto Revolution

by Nancy J. Allen
October 2, 2023
0

The mainstream audience might notice the realization of crypto's potential. This narrative lost its prominence during a prolonged crypto winter and...

Data Security in Blockchain With Cryptography 

Data Security in Blockchain With Cryptography 

by Ritika Sharma
October 2, 2023
0

Blockchain is secure, but extra security, like cryptography, is needed for blockchain data. The global blockchain security market will reach $25.7...

Union Pacific Corp. (NYSE: UNP): UNP Stock Price Analysis

Union Pacific Corp. (NYSE: UNP): UNP Stock Price Analysis 

by Nancy J. Allen
October 2, 2023
0

The UNP stock price has been forming swing lows and lower highs since July 26, 2023, from the $240.48 level.The...

Load More
  • Trending
  • Comments
  • Latest

Kadena price analysis: KDA coin is following the upwards trendline after forming the bullish pattern

February 9, 2022
AMP Price Analysis: AMP Coin Trading in Horizontal Range-Bound consolidates, Will it be able to retain up to $0.088?

Will Amp Token’s Escalating Demand Drive Its Price To $1?

February 21, 2022
cryptocurrency

AQUA Airdrop is set to Roll out!

January 7, 2022
MIOTA Price Analysis: IOTA Token Price Struggles To Sustains Higher Than $1 Mark

Firefly Wallet Powered by IOTA, Starts Staking on Shimmer and Assembly Tokens

December 23, 2021
Top 3 Solana Projects to Keep an Eye on to Stay Ahead of Investors

Top 3 Solana Projects to Keep an Eye on to Stay Ahead of Investors

0
Bitfinex

Bitfinex Lets Users Earn on their Bitcoin with Celsius

0
Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

0
Cryptocurrency

U.S. Congress Members Have Introduced 40 Bills on the Subject of Cryptocurrencies

0
Top 3 Solana Projects to Keep an Eye on to Stay Ahead of Investors

Top 3 Solana Projects to Keep an Eye on to Stay Ahead of Investors

October 2, 2023
5 Applications of AI and Machine Learning For DataOps

5 Applications of AI and Machine Learning For DataOps

October 2, 2023
How Is Cryptocurrency Revolutionizing The Gambling Industry?

How Is Cryptocurrency Revolutionizing The Gambling Industry?

October 2, 2023
Fintech In The Front, DeFi In The Back-Igniting A Crypto Revolution

Fintech In The Front, DeFi In The Back-Igniting A Crypto Revolution

October 2, 2023
  • Home
  • Contact Us
  • SUBMIT PR

© 2022 The Market Periodical

 
No Result
View All Result
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
  • Contact Us

© 2018 JNews by Jegtheme.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?