2022-06-29 09:24:43

AAVE Technical Analysis: It Is Worth Buying Above $65

The long and exhausting downward trend in the AAVE market still does not give serious signals of reversal. Increased trading volumes since 9 May do not yet show a change of initiative in the market. The efforts of sellers are justified and give the result. Sellers with good dynamics take control of every important price level- firstly $110 and now $65. During the trading week from 13 June, sellers managed to break the $65 mark with great effort. Source: During the next trading week from 20 June, buyers also made a lot of effort in terms of trading volume, but were unable to absorb the previous candle of sellers. Leaving the weekly closing price below $65, buyers actually gave the local initiative to sellers. During 3 days of the new trading week, sellers lowered the AAVE price by 10%. Looking at the AAVE global picture, investing in this cryptocurrency is safe only after fixing the price above $65. AAVE Technical Analysis On The Daily Timeframe Source: Analyzing the AAVE price movement on the daily timeframe, we can see that buyers have organized a rather weak price rebound after the fall wave on 31 May. For this rebound to continue, the AAVE price must not fall below $55.7. In this case, buyers will confirm their interest in this range, which on 13 June began the process of inhibiting the fall wave. The situation is also dangerous for sellers. The...

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