AAVE Tops the Losers List Today Can It Reverse the Downtrend?
- Aave (AAVE) is currently trading at $164.90, down 6.36% in 24 hours.
- RSI at 33.00, indicating oversold conditions; CMF at -0.30, signaling weak buying pressure.
Aave (AAVE) is currently trading at $164.90, marking a 6.36% drop in the last 24 hours. The market cap stands at $2.48 billion, reflecting a 6.37% decline. The 24-hour trading volume is $210.37 million, down by 19.21%. The market cap ratio is 0.1402, indicating an undervaluation compared to its locked assets.
Will Aave Rebound or Drop Further?
AAVE faces resistance at $168 and support at $160. If the price drops below $160, it could test $155 or lower. A break above resistance may push the price toward $172-$175.
The Relative Strength Index (RSI) is 33.00, indicating that AAVE is in the oversold zone. The RSI moving average stands at 37.94, showing weak momentum. If RSI climbs above 40, it could hint at a recovery. A drop below 30 may signal more downside pressure.
The Chaikin Money Flow (CMF) is at -0.30, suggesting capital outflow from AAVE. A negative CMF often indicates weak buying pressure. If it turns positive, it may reflect a shift in market sentiment.
Recent candlestick formations show multiple bearish red candles, confirming a downtrend. The market has seen lower highs and lower lows, reinforcing selling pressure. Buyers must push the price above resistance to shift momentum.
AAVEs short-term moving average is trending below the long-term moving average, confirming a bearish outlook. The price must sustain above key levels for a trend reversal. AAVE remains in a downward trend, with indicators signaling weakness.
If buying pressure increases, the price could rebound from support levels. However, if sellers dominate, it may slide further. Traders should monitor RSI, CMF, and price action for confirmation of the next move.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
