AAVE exchange outflows have spiked to a one-month high relieving short-term selling pressure, but several indicators are yet to flip bullish.
rebounded over the weekend after China’s new economic stimulus spurred gains across the cryptocurrency market. In the last 24 hours, AAVE gained nearly 7% to trade at $154 at press time.Following this uptrend, AAVE broke out of the midline of its ascending parallel channel on the one-day chart, suggesting that bulls are gaining strength.The three green consecutive volume histogram bars show that buyers have been in control of the price action.
Buyers could continue overwhelming sellers as exchange inflow data shows traders are withdrawing their AAVE from exchanges at a high rate. This indicator has also been forming lower lows despite the price gain, indicating that the current trend is weak.The Moving Average Convergence Divergence is sitting below the signal line, which also shows a bearish bias.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aave: Is $146 the make-or-break point for AAVE’s price rally?AAVE rejected at $146 resistance, with consolidation likely unless a breakout leads to higher price targets.
Read more »
Aave (AAVE) Shows Bullish Momentum With Increased Trading ActivityAAVE, a leading DeFi token, is experiencing strong bullish momentum with surging trading activity and positive market sentiments. Data reveals a 34% increase in active addresses over the past 24 hours, indicating growing market interest and potential for price growth.
Read more »
Job losses at Kelowna-based medical technology company owned by LoblawsLoblaws purchased QHR Technologies in 2016 for $170 million
Read more »
AAVE attempts to break THIS resistance again: Will it reach $200 by year-end?The weekly chart shows Aave approaching this resistance level for the second time, backed by bullish momentum.
Read more »
Aave outpaces BTC but hits resistance: Is a reversal on the horizon?This could be the start of a reversal of AAVE/BTC pair but it is yet to be confirmed since Aave's fundamentals say otherwise.
Read more »
AAVE to reclaim ATH amid DeFi renaissance, says crypto VCAave has outperformed DeFi blue chip tokens in Q3 returns and eclipsed BTC in YTD profits. Will the uptrend continue?
Read more »