RLinda ! AAVEUSDT-> The price falls again by 13%. What's next?

19 Sep 2022

AAVEUSDT The cryptocurrency market has fallen again in the last 24 hours and most of the coins are in the red zone. AAVE follows the market and is down 13%

On the chart we have a global downtrend. I drew a strong resistance line, price reacts to the level with bearish momentum and updating global lows.

Since we have a formed bearish channel, at this point it is not worth talking about a breakdown or pullback from the support zone of the downtrending price channel, you need to wait until the price reaches the zone, and then you should watch out for price behavior and your trading strategy.

I assume that from the support zone we may see a pullback against the trend. The short-term target is resistance 77.9. With the development of the short set and breakdown of the support level, the price may fall to support 55.2.

Regards to R. Linda!