On May 12th, the AAVE/USDT pair rebounded from the new lower low of $65.5 and reverted to the descending trendline. This pullback gives trade opportunities to short-sellers with a target of 25% down to $65.5. However, can they provide a legit breakdown from $65.5?
Key points:
The AAVE price plans another reversal from the falling trendline
The AAVE buyers regain the first line of EMA defense-20 DMA
The intraday trading volume in AAVE/USD is $387 Million, indicating a 94% gain
Source- Tradingview
Under the influence of a descending trendline, the AAVE price has been gradually falling for nearly two months. During this phase, the altcoin turned down from the high of $250 and plunged to a low of $65.5 mark, registering a 74.4% loss.
Furthermore, the recent bullish pullback from $65.5 support surged the AAVE price 64% higher and retested the overhead resistance again. Moreover, the altcoin even breached an immediate resistance of $94.3, which may encourage buyers to breach the overhead
We współpracy z: https://coingape.com/markets/aave-price-analysis-95-breakdown-tease-25-kn-aave/
