Alert: AEVO Down -80% from Its All-Time High, What Next ?AEVO Down -80% from Its All-Time High
AEVO, listed on Binance on March 13, 2024, experienced a significant price movement shortly after its listing. Within 15 days, AEVO hit an All-Time High (ATH) of $3.94 from its listing price of approximately $2.80.
Current Status:
Current Price: $0.76
Down -80% from ATH
Technical Analysis Highlights:
- The chart indicated a clear exit point at the breakdown of the $2.93 support level.
- An alert was triggered when a bearish flag formed last month, followed by a breakdown and retest at the $1.46 level.
- It's crucial to learn from market movements and avoid trading blindly. Many investors who entered at the ATH are now facing an -80% decline.
Investment Impact:
An investment of $100,000 at ATH is now worth only $20,000.
Trade smartly, guys! Always perform thorough analysis and stay vigilant with market signals.
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the AEVO crypto price failsAEVO price has shown that it was in bulls' favor earlier from March 13th, 2024, to March 27th, 2024, the price attempted to rise and built a top on the daily chart at $3.70, from the support at $2.00. However, the wind shifted in the Bears' favor, and from March 28th onwards price deteriorated and collapsed all previous support levels.
According to the technical daily chart, the AEVO price has witnessed strong selling pressure. For the last few weeks, the AEVO asset has been showing bearishness and falling potential as it has been struggling below the 20-day EMA and falling by facing resistance, which is influenced by the sellers' surge. Meanwhile, AEVO has recorded an all-time low on the day of writing and sellers seem stronger.
At press time, the AEVO price traded at $1.157 with an intraday loss of -2.20%. The market capitalization is $123.60 Million and the 24-hour trading volume is $41.20 Million.
Will AEVO Crypto Shield the $1 Mark? Let's Unfold Its Daily Chart
On a daily time frame, the Aevo price exhibits weakness and is trading near an all-time low price level. The AEVO price has portrayed a continuous fall and if the crypto asset price gains bullish momentum and faces resistance from the 20-day EMA once again on the daily chart, then the sellers may become confident and push down the asset's price to a new all-time low.
On the other hand, if the AEVO crypto price manages to advance above the 20-day EMA and sustains for a few daily sessions, an elevation in trading volume can generate buying momentum for the short term, which can be expected under these possible circumstances.
According to the technical indicators, the Bollinger band (BB) exhibits that the price trades at the lower Bollinger band and looks difficult for its price to reach the basis line in BB. The Aevo price MACD tool also signifies bears strength superior to bulls, and bulls seems to have no control yet, and the RSI is at 29.26, this line is trading below the trading below the key moving-SMA smoothened line. Overall, the technical indicators demonstrate a negative sentiment.
Therefore, if the AEVO crypto price fails to stay above the $1.100 price level, it could decline further.
On the contrary, if the demand for the AEVO asset price remains high, it could bounce back from the current level. This will be visible in the technical indicators once this scenario occurs on the daily chart like RSI would cross the median line, MACD would jumpzero line, and BB would take price above basis in upper band. This makes, the next target for the AEVO price would be to reach $1.50, and $1.90, respectively.
