AAVE/USDT Binance 4Hour Chart Analysis April 9, 2023

AAVEUSDT

The price has fallen to the 200-SMA on the 4-hour chart and the 20-EMA is turning down, suggesting that the bears are currently in control. In case the 200-SMA support is broken, the pair could slide further to the uptrend line, which is a crucial support level for the bulls to defend. The bears would gain more strength if the price drops below this level. On the other hand, if the pair manages to move above the 20-EMA, it would indicate that the bulls are regaining strength, and the price could increase to the overhead resistance at $82.

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