Aave follows a descending resistance line.
There is support at $ 28.50, as well as resistance at $ 45 and $ 58.
The SNX broke a line of descending resistance
Aave (AAVE) price has started to rebound from a strong support area, but has yet to break above its descending resistance line.
The Synthetix Network token has already crossed its descending resistance line and has started to rise.
The BitQT was down from its August 26 high at $ 90.89, passing a descending resistance line in passing.
On November 5, the price hit a low at $ 24.66 before starting to rise. This caused a deviation below the $ 28 support, which the price regained soon after.
That said, the price has not yet broken the descending resistance line. If it succeeds, the closest resistance areas will be found at $ 45 and $ 58
The tradeuse of cryptomonnaies @Altcoinsherpa shared a graph showing AAVE that the course is a support level. According to her, the price could start to rise soon. The price has already rebounded on the support zone and its trend would be confirmed by a passage above the resistance line.
Technical indicators show a growing bullish divergence in the RSI like the MACD. This tells us that an upward movement may soon take place.
That said, the RSI is below 50, the MACD is below zero and the Stochastic Oscillator has yet to generate a bullish cross. Until this changes, it cannot be said with certainty that the trend is upward.
A move above the resistance line would likely allow technical indicators to turn bullish.