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since the last readPrice has left the range the coin's last read drew.
Price has left the range the coin's last read drew.
Daily downtrend since Oct 2, bouncing from the 115.1 low — the last lower high is 140.9
The setup is bearish while AAVE stays under 190.1: a head and shoulders is forming.
Backing it: on the daily chart, each peak and each dip has been lower than the last and the indicators favour the sellers' side; against it: the weekly chart is up.
Price is under the 50-day average (150.6). It is over the 200-day average (109.1).
The last 5 days are up 4.0%.
Price is 8.6% under 140.9, the last lower high, and 11.9% over 115.1, the trend's low.
The first warning would come earlier: a daily close over 134.9, the old low it broke down from, 4.5% away.
What kills the setup: a daily close over 190.1, 32.2% away.
For it: price is under the average price buyers have paid since the 85.11 low, 138.7, so those buyers are losing money; more trading has happened on down candles than on up ones, so sellers have been the more active side.
Against it: the weekly chart is up; the last 5 days are up 4.0%; price is above the Monthly VWAP (130.4).
While AAVE stays under 190.1 the setup stays bearish; 115.1 is the next line it has to break.
A 1D close above 190.1 ends the head and shoulders; no tested level above it on this chart — the next round number is 200.0.
A 1D close below 115.1 carries the downtrend past its last low; the next level down is 102.2.
115.1 is the floor — the trend's low, set Oct 30. It is also the prior week low.
140.9 is where sellers keep showing up: it held 4 of 6 visits. It is also the prior week high.
133.0, the prior day high 3.2% above price: sellers turned price there on 4 of 8 visits.
AAVE has been in a downtrend since Oct 2: its lows have stepped down (147.0, then 115.1), and so have its highs (187.9, then 166.0, then 140.9). Price is 11.9% over the trend's low, 115.1 (Oct 30). The last lower high is 140.9 (Nov 1), 8.6% above price; no daily close has gone over it.
The weekly picture: a recovery off the cycle low, 81% under the all-time high; on the daily, price is above the 200-day average (109.1), and the 50-day average is above the 200-day average. The daily trend runs against the weekly.
Against BTC: over the last 5 daily candles AAVE moved +4.0% and BTC -1.2% — AAVE is the stronger chart.
Sellers have had the daily since Oct 2: each bounce has been sold lower than the last, and no daily close has cleared a lower high. The bounce from 115.1 is the buyers' push against it; it has not reached 140.9 yet. That runs against the weekly chart, which is up.
Nothing in the bounce says the selling has changed character. Price is under the average price buyers have paid since the 85.11 low, 138.7, so those buyers are losing money. More trading has happened on down candles than on up ones, so sellers have been the more active side.
What doesn't fit: The trend is weak — ADX 24, under the 25 where a trend is real, with sellers ahead (−DI 25, +DI 17). Price is above the Monthly VWAP (130.4). This is what the bounce has going for it.
| Level | Price | From price | Role |
|---|---|---|---|
| Swing high | 150.6 | +16.5% | swing, read |
| Prior week high | 140.9 | +9.4% | calendar, fib |
| Swing high | 134.9 | +4.7% | swing, read |
| 2-TF resistance | 134.0 | +4.0% | confluent, calendar |
| Prior day high (not retested) | 133.0 | +3.2% | calendar, swing |
| Golden pocket | 131.3 | +1.9% | golden pocket, calendar |
| Fib retracement | 129.5 | +0.5% | fib, swing |
| 2-TF support | 128.3 | -0.4% | confluent, calendar |
| Volume shelf | 126.8 | -1.6% | hvn, sr |
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