AAVE PRICE ANALYSIS: – 50MA crosses 200MA, bears get ready.

  • AAVE’s trading volume in the last 24 hours at the time of writing this article is + 15.96%
  • The price of AAVE / BTC and AAVE / ETH at the time this article was written is 0.00673BTC and 0.09368ETH, respectively
  • 50MA crosses 200MA downlink

LONG TERM VIEW: –

In the daily chart time interval we can see that the MACD has started to show the green candle while the MACD line is crossing the signal line as it means a change in people’s mood. In addition, we can see that the RSI is in the neutral zone near 51 and we can see that the RSI is pointing towards the overbought zone (70). Finally we can see the moving average as we can see that 50MA is going towards the 200MA where we can see a death transition which is a very bearish sign. When the crossover is complete the trend can become very bearish.

Trade view

SHORT-TERM VIEW: –

In the 4 hour time interval we can see that the RSI is already in the overbought zone near 72.06, which means that the coin is now overbought. The price is still going up, but then the price will inevitably go down. Additionally, we can see that MACD is displaying a green histogram because the MACD line is above the signal line and there is no sign that the line is changing direction. In the end, we can see that the 50MA is below the 200MA, which is a great bearish sign for the investor and trader alike.

Trade view

CONCLUSION:-

In both the long term and the short term we can see the 50MA crossing towards 200MA, this is a very bearish sign. The bulls are trying to push the price up, but they lack volume. The price will go up a little, but we can see the mood change of the people where the trend is down.

RESISTANCE: – $ 350, $ 400

SUPPORT: – $ 300, $ 250

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