Over the last 24 hours, the AAVE token has faced conflicting signals in the market. On one hand, a technical indicator shows a bullish signal, while on the other hand, the chart shows weak trends, creating an uncertain situation.
Emergence of Bullish Signal
According to analyst Ali (@ali_charts), a bullish signal has appeared on the hourly AAVE chart. The TD Sequential indicator displayed a completed 9-count followed by a bullish '1' candle, which may indicate the beginning of a price reversal after a prolonged downtrend.
Retesting of Broken Trend
However, the daily chart of the AAVE token shows less promising results. Over the last few months, AAVE has followed a steady upward trend, but just a few days ago, the price broke below the key support line and is now retesting it from below, facing rejection.
Situation on AAVE Chart
Now, the price of AAVE is caught in uncertainty between a growth signal and weak technical structure. Unless bulls can push the price back above the trend line, recent bullish signals may not hold, potentially leading to continued downward movement.
The current situation with AAVE requires careful observation. The token has encountered conflicting signals, and market movements in the coming days will depend on buyer activity.
