Cryptoknowmics
2022-04-29 06:45:55

AAVE Technical Analysis: Bearish Strikes at $150 Teases Fallout

AAVE coin price chart displays multiple bearish attempts to break below $150. Will the recent reversal from the 50-day EMA complete the bearish work? Key technical points: AAVE prices face rejection at 50-day EMA. The EMAs maintain a bearish alignment. The 24-hour trading volume of AAVE is $315 Million, reflecting a rise of 30%. Past Performance of AAVE AAVE coin price failed bullish reversal from the $150 mark facing rejection at the 50-day EMA and retraces to the psychological barrier. The retracement continues the sideways trend following the 35% fall from the $250 mark, breaking below all the crucial EMAs. Source-Tradingview AAVE Technical Analysis The AAVE coin shows a potential head and shoulder pattern formation with a neckline at the psychological mark. Moreover, the chances of an evening star pattern from the rejection at the 50-day EMA increases. The flattish trend of the crucial daily EMA provides opposition to the bull run while maintaining a bearish alignment. Hence, the EMAs promote a bearish continuation in the coin price. MACD Indicator: The MACD and signal lines maintain a sideways trend in a bearish alignment under the zero line. However, a potential bullish crossover arises with the decrease in the bearish spread. RSI Indicator: The RSI slope moves along the halfway mark within the nearly oversold zone and under the 14-day average. Hence, the indicator reflects an upper hand of bearish powers. In a nutshell,...

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.