AAVE PRICE ANALYSIS: – Price takes support at the 20MA but the cops lose the fight.

• The trading volume of AAVE tokens in the last 24 hours at the time of writing this article is -12%
• The price of AAVE / BTC and AAVE / ETH at the time of writing this article is 0.005239 BTC and 0.07987 ETH
• The price supports the 50MA

LONG TERM VIEW: –

In the daily time interval we can see that the price is finding support at the 20MA and the 50MA has crossed the 100MA down, which is a bearish sign. If we look at the MACD we can see that it is displaying green histograms because the MACD line is above the signal line and there is no sign that the line is changing direction. Even so, we can see the RSI is in the neutral zone at 47.78 and now the RSI is pointing to the oversold zone of 30, which means the bears are winning the battle against the bulls.

Trade view

SHORT-TERM VIEW: –

In the 4 hour time interval we can see that the price is supporting the 50MA as there is a long wick which means that the bulls are driving the price up and are not ready to give up. The price is also near the support to see if the price can hold on the support or not. Let’s take a look at the technical indicators. First we see the MACD showing green histograms as the MACD line is above the signal line, but the MACD line has started to change direction which means that it will cross the signal line soon. Additionally, we can see the RSI is in the neutral zone at 53 and pointing towards the oversold zone, which means the bears are winning the fight. Eventually we can see that the 20MA is below the 100MA and below the 50MA, but we can see that the 20MA is changing direction and will soon cross the 100MA which is a bullish sign

Trade view

CONCLUSION:-

In both the long and short term, we can see the trend is bearish as the 50MA crosses the 100MA in a bearish move. Change in the 4 hours on the MACD line that will cross the signal line, which is a signal for the bears to start selling so the price can go down to the support and then they can bounce back, but this depends on the volume the ab cop.

RESISTANCE: – $ 314, $ 330

SUPPORT: – $ 290, $ 275