Aave V3 is live on Ethereum and has since seen increased activity. Buying momentum for AAVE is on a decline. Following unanimous support from its community members, leading decentralized lending and borrowing protocol Aave deployed its V3 iteration on the Ethereum network on 27 January. Since it launched on the chain, it has attracted $28.96 […]
At press time, AAVE traded at $83.34. In the last week, the alt’s price was severely volatile and oscillated between $86 and $88. In fact, at some point during the week, AAVE traded at a low of $80.
An assessment of AAVE’s Bollinger Bands on the daily chart confirmed that the price volatility might be decreasing. The alt’s price was spotted moving away from the upper band towards the middle band.indicates increased selling pressure and a potential oversold signal. The reading of the token’s Chaikin Money Flow lent credence to this position.
While AAVE’s price oscillated in a tight range in the last week, its CMF declined. Still, on a downtrend at press time, the CMF was 0.07. When an asset’s price oscillates in a tight range and its CMF declines, it may indicate a shift in market sentiment from bullish to bearish. In other words, there is an absence of strong buying pressure and an increase in selling pressure, indicating a bearish trend in the market.Subscribe to get it daily in your inbox.
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