RLinda ! AAVEUSDT-> Consolidation under the level. Falling?

30 сент. 2022 г.

AAVEUSDT price is trading in a downward price channel. The global trend throughout the cryptocurrency market is bearish. Bitcoin is declining and pulling the entire cryptocurrency universe with it.

On the chart, we see the formation of the transition and change of trend from upward to downward, the whole situation develops within the price channels. The price after the trend change breaks through the important 77.9 level, formed in late June, and consolidates under the level for quite a long time.

The limit zone, formed above the level of 77.9 does not let the price in, we can see the accumulation and by the direction of the trend we can determine the assumed direction. I expect that the price will continue its fall along the trend and from the level of 77.9 will go down to the lower border of the bearish channel.

Regards R. Linda!