AEVO Price At All-time Low; Will It Keep Fading or Bounce Back?

• The AEVO coin price has lost 62% since April.
• The RSI at 28 is in the oversold zone, indicating the bears’ dominance.

According to the technical chart, the AEVO price has witnessed strong selling pressure. In the last week of March, the asset price triggered a breakout from the $3 hurdle but failed to sustain and witnessed intense selling pressure further.

For the last few weeks, the AEVO crypto price has been struggling below the 20-day EMA and falling by facing resistance. It has recorded an all-time low on the day of writing, and sellers seem stronger.

At press time, the AEVO price traded at $1.12 with an intraday loss of 5.07%. The market capitalization is $123.66 Million, and the 24-hour trading volume is $41.24 Million.

AEVO Price Prediction: Will AEVO Crypto Defend the $1 Mark?

In the daily time frame, the Aevo price showed weakness and traded near an all-time low. The price has shown a continuous fall, and if the asset price gained bullish momentum and faced resistance from the 20-day EMA, sellers may become confident and drag down the price to a new all-time low.

On the other hand, if the AEVO crypto price manages to advance the 20-day EMA and is sustained, an elevation in trading volume and buying momentum for the short term can be expected. 

According to the technical indicators, the Bollinger band (BB) shows that the price trades at the lower BB and is difficult to reach the basis BB. The Aevo price is trading below the key moving average. Overall, the technical indicators demonstrate a negative sentiment.

Aevo Price Analysis Over 4-H Timeframe

In a 4-H time frame, the digital asset price had declined through a falling channel. Suppose the Aevo coin price triggers a breakout from the channel and sustains it; buyers may show interest. If the crypto price manages to surpass the 200-day EMA, buying momentum for the long term can be experienced.

Alternatively, if the cryptocurrency price fails to surpass the 20-day exponential moving average, the sellers may hold the grip, and the price might keep declining through the channel.

Conclusion

Based on the technical analysis of the AEVO coin price, the bears seem to dominate the market. The asset has been recording all-time lows and struggling to break above the 20-day EMA. However, buyers may show interest in the short term if the price gains bullish momentum and surpasses the 20-day EMA. On the other hand, if the cryptocurrency fails to do so and continues to decline, sellers may keep a firm grip on the market. 

Technical Levels

As per the chart structure, there was a higher probability that the Aevo price might face resistance from the $1.50 and $1.85 levels. On the other hand, the price may take support on the $1.16 and $1.00 mark.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.