AAVE has been exhibiting weak price movements relative to its competitors lately. However, it appears to have hit the demand hurdle, which could lead to a recovery. Continuing in the article, we examine the signals of the Sequential indicator for altcoin AAVE, with more than 20 accurate Bitcoin predictions (TD).
Altcoin AAVE price analysis
AAVE has gone through an eleven-month period of consolidation. It has recorded a number of LL and HL levels since the start of the year, without offering a clear picture of its next targets. Market behavior is developing a symmetrical triangle on the three-day chart. AAVE’s move to the top of the pattern indicates that a spike in volatility is ongoing. The distance between the high points of the triangle indicates that the ongoing recession could result in a price action of up to 82%. However, AAVE must first close a daily candlestick above the $330 resistance level to continue towards the previous ATH level of around $667.
- However, any signs of weakness around the $237 support level could invalidate the bullish view and result in a 22% correction.
What does the Tom DeMark (TD) Sequential indicator say about AAVE?
According to the analyst, the AAVE/ETH pair looks set to recover after falling more than 80% since the beginning of February. Also, the positive news for the analyst is that the Tom DeMark (TD) Sequential indicator is giving a buy signal on the three-day chart. The bullish pattern developed as a red nine candlestick that indicates the rise of one to four three-day candlesticks or the start of a new uptrend.
Increasing buying pressure around current price levels could push altcoin AAVE price to 0.075 ETH. If the uptrend is strong enough, the DeFi token can break this resistance level and rise towards 0.12 ETH. It is worth noting that all the buy signals that the TD setup has presented since February have led to a rapid upward price action after lower lows. The 0.061 ETH support level is notable as a breakout of this price point could lead to a 26% pullback to 0.045 ETH.
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