AAVE price might experience near-term bearishness due to a sell signal presented by TD Sequential indicator. Invalidation of this bearish outlook might present AAVE with an opportunity to surge to $160 AAVE price is trading under $120 after hitting a new all-time high of $124 on January 5. However, the digital asset recently flashed a sell-signal that may see it retrace before the uptrend resumes. AAVE price hovers at overbought territory The TD Sequential indicator presented a sell signal in the form of a green nine candlestick on AAVE’s daily chart. The bearish formation forecasts a one to four candlesticks correction that could see Aave price dive before it rises to new highs. The RSI indicator adds credence to the pessimistic scenario as it sits in the overbought zone while the Stochastic RSI formed a new bearish crossover. AAVE/USDT 1-day chart Moreover, Santiment’s holder distribution chart shows that whales aren’t buying AAVE at the current price levels. Holders with 10,000 to 1,000,000 tokens have remained on the sidelines waiting for prices to make a definite move before adding fuel to the downward or upward pressure. AAVE holders distribution chart IntoTheBlock’s In/Out of the Money Around Price (IOMAP) model suggests there is strong support around the $100 level. More than 20 addresses had previously purchased 286,000 AAVE between $108 to $111, while 950 addresses hold over 400,000 tokens, around $104. If selling pressure mounts behind the DeFi token, such a significant demand wall between $111 and $104 may contain prices from depreciating further. AAVE IOMAP On the flip side, a total of 944 addresses bought about 223,000 AAVE at $115. A daily candlestick close above this price hurdle may be significant enough to invalidate the bearish outlook. If this were to happen, Aave price would likely aim for a new all-time high of $160. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD to move downward in the next months – Rabobank FX Street 1 year AAVE price might experience near-term bearishness due to a sell signal presented by TD Sequential indicator. Invalidation of this bearish outlook might present AAVE with an opportunity to surge to $160 AAVE price is trading under $120 after hitting a new all-time high of $124 on January 5. However, the digital asset recently flashed a sell-signal that may see it retrace before the uptrend resumes. AAVE price hovers at overbought territory The TD Sequential indicator presented a sell signal in the form of a green nine candlestick on AAVE’s daily chart. The bearish formation forecasts a one to four candlesticks correction that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.