Bears are Not Done Yet with MAKER & Aave

Bears are Not Done Yet with MAKER & Aave


If you don't look beyond those bullish candles you might be fooled and thing that its a bullish reversal on Aave and Farm token. The market is stil in the hands of the bears maybe they might be losing steam but they still holding on to that grip.

Reversals

Maker token and Aave has the same setup and if you look at Aave on its monthly chart you can see that there is a huge bearish doji which has engulf the previous bullish candle.

Then if you check its Daily chart there is a a resistant level on $414 and that zone has been tested again 8 days ago and it remained unconquered. The Current bullish streak looks like it already losing steam and you can see the candle sizes.

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Lets give it some time if it will break above and create a higher low after a successful retest after a break above, maybe that when we will consider being bullish biased.

Another victim to hungry bears

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The above screenshot ids of Maker , you can see it had a larger bullish engulfing candles which found resistance at $4218. Now its seating at the support level which has at $3463 and trading at $3657. The current bullish rail is looking like its weak because the candle sizes  are now smaller and there are now a doji and spinning top which are reversal candles found in the midst  of a untrending pandemic

Conclusion

it is not wise yet to buy these tokens as the reversal is still weak and we do not have to rush and buy then hold a tokens in loss. Lets just look for buy opportunities if it maintains the support but if it fails to hold we then look for sell opportunities.

 

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Defiant Pathfinder
Defiant Pathfinder

I refuse to giveup


Defiant Pathfinder
Defiant Pathfinder

I am Unstoppable & Unpredictable

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