AAVE/USDT Binance Daily Chart Analysis April 9, 2023

AAVEUSDT

The bears seem to be resisting the Aave price from surpassing 82, pushing it below the support at the 20-day EMA (75). The AAVE/USDT pair may descend to the 200-day SMA (73) near the uptrend line, which is expected to be a significant support level. A rebound from the uptrend line and a break above the 20-day EMA could take the pair to $82.

If bulls succeed in breaking the resistance level, the pair will complete an ascending triangle pattern with a target of $100. If the price falls further and breaches the uptrend line, the bullish scenario will be invalidated, and the pair may fall to $68 and later to $64.

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