AAVE/USDT Binance Daily Chart Analysis April 9, 2023
AAVEUSDTThe bears seem to be resisting the Aave price from surpassing
82, pushing it below the support at the 20-day EMA (
75). The AAVE/USDT pair may descend to the 200-day SMA (
73) near the uptrend line, which is expected to be a significant support level. A rebound from the uptrend line and a break above the 20-day EMA could take the pair to $82.If bulls succeed in breaking the resistance level, the pair will complete an ascending triangle pattern with a target of $100. If the price falls further and breaches the uptrend line, the bullish scenario will be invalidated, and the pair may fall to $68 and later to $64.
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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.