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AAVE Prediction – Why AAVE Will Fall Much Deeper!

 


Aave price has been forming a bear flag for the past few weeks after forming a low near $46. The price could remain in this bear flag for a few more weeks. We expect it to test the golden pocket of the last move down. Then it could go south. The GoldenPocket ranges from $94.4 to $97. At the same time, the price would face the $100 psychological resistance. So there could be double selling pressure. A bearish breakout from a bear flag is very likely. Flags are one of the most reliable patterns, which is why we strongly expect a bearish breakout here.

With bear flags serving as a trend continuation formation, we expect Aave price to make at least one new low. This low could hold until next support. Since this is around $29, we expect the price to fall around 70% after reaching around $97. Once that is done, the $29 support would be reached. This is a more longer-term move. We won't reach $29 in a few weeks. This goal could only be achieved in winter.

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