Home > web3.0 > AAVE and UNI Prices Dive as Whale Accumulates Tokens

AAVE and UNI Prices Dive as Whale Accumulates Tokens

王林
Release: 2024-07-16 14:09:45
Original
1154 people have browsed it

Cryptocurrency prices are in a wait-and-see mood this week as concerns about German and Mt.Gox Bitcoin selling continued.

AAVE and UNI Prices Dive as Whale Accumulates Tokens

Cryptocurrency prices are broadly in a wait-and-see mood this week as concerns about German and Mt.Gox Bitcoin selling continued. Bitcoin (BTC) remained solidly above $55,000ῄ. Other tokens like Notcoin, PeiPei, Celestia, and Sei jumped.

This piece focuses on AAVE and Uniswap, two of the oldest players in the decentralized finance (DeFi) industry. Recent data showed that a whale has been accumulating the two tokens, which could be a positive sign.

The whale deposited 4 million USDT in Kraken and bought 35,983 AAVE and 123,183 UNI tokens. He now holds AAVE tokens worth over $12.1 million and UNI coins worth more than $11.6 million.

Uniswap price forecast

Uniswap price peaked at $17.02 earlier this year as the developers announced a vote to reward UNI token holders. It also jumped as traders focused on the strong performance of its DEX platform which handles billions of transactions each day.

Like other cryptocurrencies, UNI price has dived in the past few months and moved into a deep bear market, falling by 52% from its highest point this year. Most recently, Uniswap has formed a triple-top chart pattern at $11.92. In most cases, this is one of the most bearish patterns in the market.

UNI price has dropped below the top’s neckline at $8.8 and the 61.8% Fibonacci Retracement point. It has also dropped below the 50-day Exponential Moving Average (EMA), meaning that bears are in control.

Therefore, the most likely scenario is where the Uniswap token drops to the next key support level at $6, its lowest point on April 13th. A break below that point will point to more downside, with the next key point to watch being at $4.

AAVE price prediction

AAVE is one of the most popular lending players in the DeFi industry. Over the years, it has accumulated over $12 billion, making it the third-biggest DeFi platform after Lido and EigenLayer.

AAVE price peaked at $153.90 in March and has now dropped to $80. It recently dropped to the key support level at $72.76, where it formed a double-bottom pattern whose neckline was at $114.97.

However, the token has also formed a head and shoulders pattern, a popular bearish sign. It has also moved below the 50-day moving average. Therefore, a drop below the support at $72.76 will invalidate the double-bottom pattern and point to more downside. That means that it could soon drop to $60 if Bitcoin resumes its downward trend.

The above is the detailed content of AAVE and UNI Prices Dive as Whale Accumulates Tokens. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Popular Tutorials
More>
Latest Downloads
More>
Web Effects
Website Source Code
Website Materials
Front End Template