Aave’s goal was to shift the $390-region from supply to demand. Dash and Polkadot approached stiff resistance with bullish momentum, and the next day or two will show whether the market’s bulls have the fuel to push stocks higher. Ethereum‘s fleeting break of $2,000 could have a bullish effect on the market’s altcoins.
The 20-period EMA (white) was moving beyond the 50-period EMA, suggesting that AAVE’s recent movement has been upward, and the 20 EMA has seen buyers jump in to push prices up. The $386-$390 resistance range seemed to have been exceeded in recent trading hours.
The trade volume was not negligible, and the OBV revealed that purchasing volume outweighed selling volume over the previous week. Whether or not this pattern persists in the coming weeks will decide whether or not AAVE will climb above $421 and towards $500. The first move will be to flip $390 to a high-demand zone.
With bullish impetus, DASH even reached a high degree of resistance. The $245 resistance amount has already been tested twice in the last month, and the price has been denied on both occasions.
The Chaikin Money Flow was greater than +0.05, indicating nett capital inflow into the market, and the Amazing Oscillator suggested bullish momentum.
In the coming hours, a Doji, hanging guy, or bearish engulfing candlestick pattern at resistance would indicate another rejection for DASH, while a session close above the $249-level would indicate further upside.
A latent bearish difference between price and movement is shown in orange, with DOT pulling back from $38.8 to dip as low as $36.4 before heading higher once more. At the time of writing, DOT was trading above the $38.2 resistance mark, which could be retested as support in the coming days.
Following the corrective dip, the RSI started to increase once more. DOT values recovered from the collapse of the ascending triangle trend (white), with bulls pressing for $40 and then the ATH at $42.
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