The weekly technical chart of AAVE Price forecast a bearish momentum.On coming to the daily chart AAVE price has given a negative crossover from the 50 Moving Average .Chain Link price is below the 50MA and above 100MA.The 50MA (Red) line is at $408 making it temporary resistance for the coin.Resistance for the coin on going upside is at $450 and on the down side price can see a bounceback from $400.AAVE has formed a parallel channel on the shorter time frame.If the price breaks down 10% above the AAVE then a strong bullish momentum can be seen.AAVE price can see a bullish move but one should wait until it test the lower region of channel and have a bounceback.AAVE/BTC pair can also see a downtrend in upcoming trading session.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.