Analysis

Aave and Balancer (BAL) Technical Analysis: Will the Uptrend Remains?

Aave and Balancer prices have mixed price actions. AAVE could stay put against sellers above $300, while BAL is solid above $22. Aave The lending and borrowing DeFi protocol uses AAVE for governance. Past Performance of AAVE The token is stabilizing but is under immense selling pressure, per reading from price action on the last trading day. Specifically, the October 27 pin bar has a long upper wick suggesting selling pressure in lower time frames. Even so, the AAVE crypto uptrend is valid as long as $260 holds. Day-Ahead and What to Expect The AAVE technical analysis reveals strength on the daily chart. However, the odds of the token posting more losses to mirror the performance of the crypto market remain high. It is despite attempts of AAVE/USDT prices to align along the upper BB to suggest strength. Aggressive traders may continue ramping up, targeting $440. Meanwhile, risk-on traders may adopt a wait-and-see approach, liquidation if there are losses below $300. AAVE Technical Analysis The AAVE/USDT price is within a bullish breakout pattern on the daily chart. As such, risk-off traders may buy the dips, targeting September 2021 highs of around $440. Even so, if bears of October 27 flow back, a dip below the middle BB and the psychological $300 level may force AAVE coin prices towards $260. Balancer (BAL) The swapping and launching pad protocol on Ethereum uses BAL for governance. Past Performance of BAL The Balancer token price is widely fluctuating, moving inside a tight range in the daily chart. While BAL crypto buyers may stand a chance, gains of October 27 were limited and capped below $25. Day-Ahead and What to Expect Reading from the BAL technical analysis, buyers are resilient. If there is an assurance of an uptrend and BAL coins surge above $25, the BAL/USDT price may race to September highs of around $35. Conversely, rejection of higher highs and unwinding of October 26 gains may slow down Balancer token prices, even cooling them back to $18—September 2021 lows. Balancer Technical Analysis The BAL/USDT uptrend is still valid despite the headwinds of October 27. From the daily chart, $25 is the immediate resistance level. A high-volume break above this line may subsequently lift BAL to $35 in continuation of the recovery tracing back to the 78.6 percent Fibonacci retracement line of the Q3 2021 trade range. On the flip side, a plunge below $22 may accelerate the sell-off to $18 in the resumption of September 2021 bears.
The post Aave and Balancer (BAL) Technical Analysis: Will the Uptrend Remains? appeared first on Cryptoknowmics-Crypto News and Media Platform.

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