The AAVE technical analysis displays an increase in selling pressure influencing the post-retest reversal teases a drop to $48. The AAVE price action displays a bullish failure to rise above the 100-day EMA leading to a price dump below the $76 mark. Moreover, the ongoing retest phase forecasts a prolonged correction in the coming weeks, potentially testing the $48 support level. So, will the prices fall by 35% to $48, or will the buyers sabotage the retest phase? Key points: The AAVE prices show a retest phase of $76. The post-retest reversal shows potential to reach the $48 mark. The intraday trading volume in AAVE is $122 Million. Source-Tradingview AAVE Technical Analysis The AAVE price displays a bullish failure to prolong the consolidation range between the $76 and the 50-day EMA in the daily chart. With the fakeout of the 50-day EMA, the prices take a bearish turnaround from the 100-day EMA resulting in the breakdown of the consolidation range. Moreover, the price action displays a Head and Shoulder breakout, with the neckline coinciding at the $76 support level, forecasting a high momentum bearish trend. As the bearish influence grows over the daily chart, the crucial daily EMAs restart the falling trend indicating an increase in the underlying bearishness. If the selling pressure persists, the $77.6 breakdown could slump the AAVE price 25% down to $55.7. However, a high volume of activity during the retest phase sugge...
