Aave - Technical views and thoughts

By mohdfajas | Technical crypto | 21 Mar 2022








Aave is currently in a major downtrend at the moment breaking all structures. Price recently broke a 3 time support on Daily timeframe, retested and is still moving lower. While moving lower price has created a falling knife or wedge pattern which in theory is a good sign for the price to make a structure shift to regain bullish momentum.

But we dont know how valid is the wedge pattern as the price is in vigorous downtrend. I still believe the price will move further lower before making a break of the wedge or recent high untill then there is no clear picture of the price. If at all the wedge is broken, we can wait for a small pullback even in lower timeframe  before jumping in the move if price creates a new high.

 Disclaimer: This is not a financial advice, only for educational purposes

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Technical crypto
Technical crypto

Daily forecasts, technical analysis and my thoughts on some of the crypto coins purely based on the technical side and chart patterns

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