- AAVE ($286.01) has declined over the past month by 20.52%.
- An analyst predicted a potential decline to $203 amidst increased selling.
Since hitting $361 a week ago, Aave [AAVE] has struggled to maintain an upward momentum. Over this period, the altcoin has dropped to hit a low of $272.
At the time of writing, AAVE was trading at $282, marking a 2.61% decline on daily charts. The altcoin has also declined on weekly and monthly charts, dropping by 17.17% and 20.52% respectively.
The recent market conditions have left analysts pessimistic, predicting a further dip. Popular crypto market analyst Ali Martinez has suggested a potential dip to $203, citing a sell signal.
Market sentiment
In his analysis, Martinez observed that the TD Sequential Indicator has signaled a sell on the AAVE on weekly charts.
According to him, this signal is pointing to a potential dip to $264 and even $203 to the lower downside. When the TD sequential indicates sell, it suggests that the upward trend is exhausted and a downward decline is a possibility.
Therefore, if sellers enter the market, we could see a downward pressure strengthen resulting in further decline.
What AAVE&rs…
