The opening price of AAVE as of February 19, 2021, was $440.50. The closing price of AAVE as of February 24, 2021, was $367.50. Thus, the AAVE price has fallen by approximately 17% in the past week. In the last 24 hours, AAVE is trading between $346.11 and $406. https://ift.tt/3qXKeac Sentiments for the Day-Ahead and Tomorrow Today, AAVE started trading at $367.09. Currently, AAVE is trading at $364.95. Thus, the price is downtick. The A/D indicator fell steeply. But, for the past few hours, it has been rising steadily. Thus, buying volumes are gradually increasing. Whale accumulation is slowly overtaking whale distribution. Thus, the price may start rising steadily. The RSI indicator is at 46%. It had fallen below the 30% mark into the ‘oversold’ region, an hour back. Thereafter, it rallied to the current level. Thus, buying activity is increasing. Therefore, we can expect the price to rise as well. The MACD and signal lines are negative. This indicates bearish market momentum. A bearish crossover by the MACD line over the signal line gives further credence to a bearish trend. Thus, the price may struggle to go up. The ADX indicator is falling. The price is falling too. Thus, the price downtrend is strong. Currently, the candlesticks have formed a three black crows pattern. This indicates that the bears are taking control of the market. Price Levels to Watch for in AAVE Presently, the AAVE price is trading below the Fibonacci pivot point of $373.03. It is likely to fall below the first Fibonacci pivot support level of $350.11, in some time. By the end of the day, the price can fall below the second Fibonacci pivot support level of $335.95. The price has fallen below the 23.6% FIB retracement level of $360.24. By the end of the day, the AAVE price can fall below the 23.6% FIB extension level of $331.98. As per some speculators, with the increasing popularity of the DeFi coins, the AAVE price can start exploding again, but the risk component is high. Significant price corrections are happening in the AAVE market. So in the coming days, we can expect significant trend reversals.
The post AAVE to Trade Near $331.98, Price Corrections Ahead – Technical Analysis appeared first on Cryptoknowmics-Crypto News and Media Platform.
from Live Crypto News – Cryptoknowmics-Crypto News and Media Platform
