AAVE traders have this in store for coming days after bearish pennant’s… - Aliens: AI Crypto News & Markets Updates
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AAVE traders have this in store for coming days after bearish pennant’s…

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AMB Crypto

Sun, Jul 03, 2022

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Aliens TLDR

The EMA ribbons have kept a robust check on the buying rallies while keeping the broader trend under bearish control.

At press, AAVE traded at $56.2166, AAVE Daily Chart The altcoin extended its long-term tilt while struggling to break free from the bonds of its eight-month trendline resistance (yellow, dashed).

A sustained recovery beyond the 23.6% level would open doorways for the buyers to test the 20 EMA and eventually the 38.2% level.

A sustained position above this mark would help the buyers in propelling a test of the 38.2% Fibonacci level in the days to come.

Conclusion Given the bearish pennant’s breakdown approaching the $54-support, AAVE could see a squeeze phase near its POC.

Post this, the buyers would strive to test the 38.2% level.

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