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AAVE prices are edging lower, but support remains at $260. Meanwhile, Uniswap is technically bearish. UNI prices may solidify above $18.
Aave
The DeFi protocol is one of the largest borrowing and lending platforms using AAVE for governance.
Past Performance of AAVE
The AAVE token is still under pressure and trailing the greenback when writing.
From the AAVE technical analysis, sellers are in the driving seat, with traders mostly unloading on pullbacks as they align with the primary trend.
Day-Ahead and What to Expect
As from the AAVE crypto candlestick arrangement of the daily chart, bears have the upper hand.
Accordingly, traders aligning their moves with the dominant trend may be searching for liquidation entries below $300.
Further losses below $260 may heap more pressure on bulls, possibly forcing deeper corrections in the short term.
AAVE Technical Analysis
The path of the least resistance remains southwards, and sellers are upbeat.
Notably, AAVEUSDT sell bars are aligning along the lower BB, signaling high bear momentum.
Additionally, the consolidation of the weekend means AAVE prices are still within the November 16 and 18 bear bars, favoring sellers.
The immediate target for risk-off traders, liquidating on pullbacks, stands at $260. However, a break below this floor may see AAVE sink to $220—or lower.
Uniswap (UNI)
The DEX is the largest in the world using UNI for governance.
Past Performance of UNI
There is a relief run for Uniswap crypto bulls. However, the uptrend is capped. UNI token sellers are still in control, as visible in the daily chart.
Day-Ahead and What to Expect
UNI/USDT prices found support from around $20 before springing back to spot levels.
As a result, there are higher highs relative to September 2021 lows.
A close above November highs at around $25 may signal strength and reversal of bear run.
Uniswap Technical Analysis
Overall, there are signs of hope. However, UNI token prices are trending within the September 2021 trade range.
Technically, this signals weakness since bears were in control in September.
Therefore, how prices react at around $18 to $20 may determine the short-term trajectory.
Losses below $18 may force UNIUSDT back to $15. On the flip side, resurgence above $25 may be the anchor for $30—or better.