Aave - Technical views and thoughts

By mohdfajas | Technical crypto | 21 Mar 2022


 

 

 

60377711b33e6944df6d05904c6b190d6bc031a2f9e3e4f62212d7b29c83cd98.jpg

 

 

AAVE

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

How do you rate this article?


22

0

mohdfajas
mohdfajas

Just a guy looking for something and everything


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

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.