AAVE Technical Analysis: It Is Worth Buying Above $65
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During the next trading week from 20 June, buyers also made a lot of effort in terms of trading volume, but were unable to absorb the previous candle of sellers. Leaving the weekly closing price below $65, buyers actually gave the local initiative to sellers. During 3 days of the new trading week, sellers lowered the AAVE price by 10%. Looking at the AAVE global picture, investing in this cryptocurrency is safe only after fixing the price above $65.
AAVE Technical Analysis On The Daily Timeframe
Analyzing the AAVE price movement on the daily timeframe, we can see that buyers have organized a rather weak price rebound after the fall wave on 31 May. For this rebound to continue, the AAVE price must not fall below $55.7. In this case, buyers will confirm their interest in this range, which on 13 June began the process of inhibiting the fall wave. The situation is also dangerous for sellers.
The fact is that the trend line, which sellers have been keeping confidently since April 2022, is now extremely close to the current AAVE price indicator. If we break the $71 mark, we will witness a powerful growth wave, which may stop around $112. To activate this scenario, buyers should first show strength in the range of $55.7.
The AAVEBTC Price Reached The Lows Of 2020
The AAVEBTC weekly chart shows the movement of the price in the trend channel of the fall, starting from May 2021. Interestingly, the price fall occurs at the bottom of the falling channel. Buyers have long been unable to raise the AAVEBTC price above the middle line of the falling channel. Though, buyers now have a real chance. The fact is that the AAVEBTC price has reached the range of 0.0023. This range played a key role during November-December 2020. It was the set of positions in this range that allowed buyers to make the final growth wave, raising the price by 440%.
As of 9 May, the AAVEBTC price movement has ceased to look like a fall and is more reminiscent of consolidation. The probability of a sharp rebound of AAVEBTC from the liquidity level of 0.0023 up is quite high. Our main goal during the implementation of this scenario is 0.0057. This growth will not disrupt the main structure of the AAVEBTC fall and will be able to show the real strength of sellers in their territory.