As a representative of liquidity, lending protocols are important to Defi. Based on the outstanding performance of COMP last week, we have a brief analysis of the tokens for three major lending platforms today. They are AAVE,COMP and MKR.
Since early June, AAVE has risen with fluctuation. In the case of no decay in bears, price reached a 43% gains. This is ahead of most tokens. The trading volume in the process were significantly higher than previous levels. The bears started to strengthen after a pin-bar on a green candle last Friday. Five consecutive red candles appeared and nearly recovered the gains last week.
Conclusion: Mostly fluctuation. The probability of falling is greater than that of rising. AAVE remains neutral on a large scale. But no matter whether the bulls strengthen or decay, the bears (red arrow) is always here. The duration and slope of the decline is the proof of the strength of the bears. So we reserve the possibility of falling. We set resistance level at 84 and support level at 60.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Since early June, AAVE has risen with fluctuation. In the case of no decay in bears, price reached a 43% gains. This is ahead of most tokens. The trading volume in the process were significantly higher than previous levels. The bears started to strengthen after a pin-bar on a green candle last Friday. Five consecutive red candles appeared and nearly recovered the gains last week.
Conclusion: Mostly fluctuation. The probability of falling is greater than that of rising. AAVE remains neutral on a large scale. But no matter whether the bulls strengthen or decay, the bears (red arrow) is always here. The duration and slope of the decline is the proof of the strength of the bears. So we reserve the possibility of falling. We set resistance level at 84 and support level at 60.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
