AAVE Technical Analysis

While the bad outlook in the cryptocurrency market continues, AAVE, which has attracted attention with its rise in the last few days, started the day with a 1.4 percent increase. Bitcoin price could not maintain the $ 63 thousand levels it gained last week and is trading below $ 59 thousand, while Ethereum continues the day in the $ 2500 band. The cryptocurrency market is experiencing declines after Bitcoin rose to $ 64 thousand last week. So will AAVE be able to maintain this strong stance? Let’s look for an answer to the question in the AAVE technical analysis.

While AAVE continues the day with an increase of more than one percent, the value of the cryptocurrency is close to $ 133. Although many cryptocurrencies have declined in value after the sharp declines in Bitcoin, AAVE remains strong.

When we examine the support and resistance zones in AAVE, the $ 120 band, where the price also reacts, acts as a critical resistance. However, the first resistance is the $135-140 band, while the support area is $130.

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This downtrend in the cryptocurrency sector may deepen if Bitcoin loses its 58800 support. The $59200-60000 resistances to be gained in Bitcoin may bring a positive stance to the market again.

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