AAVE gives off mixed signals, but does THIS signal more gains?
The post AAVE gives off mixed signals, but does THIS signal more gains? appeared on BitcoinEthereumNews.com.
AAVE remained in a bull trend at press time. The asset will see a golden cross if the token maintains its price trend. Aave [AAVE] ended the past week positively, showing strong performance. However, it has experienced a decline in the last 24 hours. Despite this recent downturn, indicators suggested that its price could be poised for further uptrend in the coming week. AAVE shows mixed signals According to AMBCrypto, AAVE was trading at approximately $112.37, marking a daily increase of over 1.30%. The long and short moving averages (blue and yellow lines) were providing support at around $99.86 and $97.67, respectively, suggesting a solid base for its price. The Relative Strength Index (RSI) is at 60.76, indicating that it is in bullish territory but not yet overbought. This leaves room for further upside before the RSI reaches overbought conditions (typically above 70). The Moving Average Convergence Divergence (MACD) line is at 1.32, with the signal line at 1.60, both in positive territory. Source: TradingView However, despite these bullish indicators, data from CoinMarketCap showed that it was among the losers in the last 24 hours, having lost over 1%. This recent dip earned it a spot among the top losers, reflecting short-term volatility or profit-taking. Interestingly, AAVE still stood out as the second-highest gainer over the past seven days, with a notable 18% increase. Nearing a golden cross AAVE was positioned for positive price movement at press time, with the moving averages suggesting that a golden cross could form if the price continues to rise. A golden cross, where the short-term moving average crosses above the long-term moving average, is typically seen as a strong bullish signal. The next significant resistance for AAVE is around the $120 level, a psychological barrier previously acting as resistance. If AAVE can successfully break…
Filed under: News - @ August 18, 2024 11:03 pm