AAVE fell to a key demand zone – Is shorting too risky?
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion AAVE traded in the $73 – $95 range in the past few days.
Bitcoin [BTC] sharp decline on Thursday (2 March) sent the AAVE to retest its range support zone. But it seems investors aren’t exiting the market, which could potentially boost a bullish recovery if demand increases for AAVE at its current discounted prices.
Read AAVE’s [AAVE] Price Prediction 2023-24Source: AAVE/USDT on TradingView The $95 level has become a key resistance, preventing bulls from inflicting further gains after the impressive rally in January.
So far, the $90 – $95.5 zone has become a key sell pressure area. Similarly, the $73 – $77.8 is a key support zone (green) that has seen significant demand in the past retests.
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