Is $AAVE heading for a drop? Technical analysis is suggesting that a recent uptrend in the price is showing signs of exhaustion based on a classic bearish reversal pattern. (Reporting via bitcoinwallah)
The daily correlation coefficient between AAVE and the tech-heavy Nasdaq 100 stood at 0.91 as of May 17, underscoring that the two markets have been moving in a near-perfect tandem., including the recent 0.5% hike in benchmark interest rates, against rising inflation.Fear of continued sell-off remains as Wall Street veterans warn about a looming recession.
Similarly, Michael J. Wilson, Morgan Stanley’s chief U.S. equity strategist and chief information officerthe same catalysts while predicting a 15% decline in the benchmark S&P 500 index. As a result of its correlation with cryptocurrency, AAVE also risks similar downside moves heading further into 2022.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Biggest Movers: AVAX Rebounds on Tuesday, AAVE up Over 10% – Market Updates Bitcoin NewsGlobal crypto markets are up over 2% during Tuesday’s session, with AAVE and AVAX two of the biggest tokens to rise.
Weiterlesen »
Target Disappoints, Shares Plunge 25 PercentWall Street laid into Target on Wednesday after the company failed to deliver on quarterly profits.
Weiterlesen »
McLaren marks 25 years of LongtailIn 1997, the F1 GTR LT took Le Mans by storm. Its maker pays tribute...
Weiterlesen »
Newark's plan to place 25 shipping containers for homeless housing angers residentsThe City of Newark is making an effort to find creative housing solutions for its homeless population, but some residents aren't happy with the plan
Weiterlesen »
Garden Party: Potager Celebrates 25 Years of Farm-to-Table FareIts current owners are honoring the past and looking toward the future.
Weiterlesen »
25 AAPI-Owned Beauty Brands to Shop FromTatcha, Emi Jay, Hanalei, and more.
Weiterlesen »