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The market is still bearish and now it seems like it has hit support level and still gathering more strength to break below so that it sell off. I hope you know for price to increase demand has to be created first and when the big whales are satisfied with price then they offload their position and take their profits. Lets see how this happened on:
Aave
Aave is down with 8.30% on market capitalization and its price is trading at $309 and it happens to be the support level and its a strong-one as it has been tested mo than 6 times.
Demand was first created January 2021 and we can confirm that fro the order block. After demand has been created the price went up as there was not enough supply and it reached $500 then some position were offloaded and then there was a further push up which led to an all time high of $650.
Now there are more of sales and those sales are supposed to meet the demand which started ate around $200. So the below picture shows how i expect the price to move.
Uniswap
Uniswap had an order block on 20 February 2021 then on 1 March orders were collected and were held up until $44 then they were sold off and the price has hit the originating bullish order block and now its acting as the support. From this i think looking for buy opportunities is the best thing now. Currently its capitalization is down with 3.54% which is not that much.
Ethereum
There was a bullish order block in 19 April and then on 25 April orders were collected and demand was created until the price hit $4300 then the sell auction started and the price sold off until it tested $1700 and the demand was filled. Now the price is trading above the order block and if we are to buy this has to happen when it starts trading at $2700 then we buy until $3500.
Conclusion
This was just a short analysis on how price traded and possible future prediction. You can also do your own analysis to check where it could be going.
