Aave price analysis: Bears force Aave into short-term downswing to $350

TL: DR Breakown Aave is trading on a dangerous trend with a decline of (-1.3) percent.The total market capitalization for Aave dropped by 1.46 percent to a sum of $4.7 billion.The cryptocurrency heatmap is generally bleeding. Aave price analysis: General price analysis Today’s Aave price analysis chart started with bullish pressure. The buyers dominated the market for the first two trading hours, pushing the price of AAVE/USD to an intraday high of $377. Bears came in and outnumbered the bulls, and so causing price resistance. The price of Aave dropped in a descending triangle. After that, the coin traded in head and shoulder trend, recording the intraday low of $354. Aave price analysis is trading bearishly on the daily chart with long red candlesticks that saw the coin retrace 1.42 percent lower from yesterday’s price. The AAVE/USD pair fell from the $364 support earlier on, and the bears hae continued pulling the price downwards towards the $350 support.  Source: coin360 The cryptocurrency heatmap is generally bleeding. Most of the cryptocurrencies have recorded slight drops from yesterday’s price. In the early hours, only a few altcoins were in red, but most of the crypto altcoins are in red at the time of writing. What does this mean? Is it going to be a bearish day for cryptocurrencies? Bitcoin (BTC) is trading slightly below $49K with a (-1.3) percent deviation. Its closest competitor, Ethereum (ETH), is trading ...