$AAVE /USDT

The provided chart shows the 4-hour price movement of a cryptocurrency on Binance, highlighting key support and resistance levels.

Support and Resistance Analysis:

- Resistance Level:

The recent peak at $90.14 acts as a significant resistance. The price struggled to stay above this level, suggesting that sellers are active and likely to dominate if the price approaches this mark again.

- Support Level:

The chart indicates a support level around $74.80, the recent low. This suggests that buyers are willing to step in and purchase at this price, preventing further declines.

Moving Averages (MA):

- The MA(7) at $84.99, MA(25) at $84.74, and MA(99) at $89.69 illustrate short to long-term trends.

- The price currently sits below the MA(7) and MA(25), indicating short-term bearish sentiment. The price is also below the MA(99), which often suggests a longer-term bearish trend.

Volume Analysis:

- A spike in trading volume is visible as the price approaches these key levels, indicating significant trader activity and interest.

Market Sentiment:

- Indicators such as the MACD and recent volume spikes suggest increased volatility. The overall trend over the past 30, 90, and 180 days shows a bearish market with negative returns, but the 1-year return remains positive, reflecting longer-term bullish sentiment.

In conclusion, traders should watch for potential rebounds at the support level of $74.80 and be cautious of resistance around $90.14. The moving averages indicate prevailing bearish trends in the short and long term, with volume spikes suggesting active market participation at these critical points.