Analysis of Aave, Pancake Swap and Graph

Overview:

  • Aave is a decentralized finance protocol that allows people to lend and borrow crypto.
  • Pancake Swap is an automated market maker— a decentralized finance application that allows users to exchange tokens, providing liquidity via farming and earning fees in return.
  • The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem.

Aave, Pancake swap and Graph have been lately trending on the market. Market structure and analysis of Aave, Pancake Swap and Graph has been discussed extensively for 15th November, 2021.

Aave

Currently trading at $307.8, Aave is down by 2.28%. Starting off the day at $316.8 levels, Aave is currently rallying downwards. On a monthly chart, Aave rallied upwards till $458.19 levels. If we look at the daily chart of Aave today, we see the coin to be mildly bearish, it rallied downwards till $306.8 levels, before a bullish breakout. Aave is yet to test its major resistance levels. With a bearish start to the day, Aave has the potential to rally up till resistance levels of $317.3 levels, where it will find pressure from the buyer’s side.

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Market Indicators:

Hourly RSI: The hourly RSI is currently at 37.8 levels, showing major price weakness.

Fibonacci Retracement levels: 23.6%: $301.4, 38.2%: $304.8, 61.6%: $310.3

Major support level: $295.9

Major resistance level: $314.3

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Conclusion:

On the upside prices may move towards $310 levels. The first major resistance sits at $314.3. In event of an extended rally upwards, the second major resistance sits at $319.3 levels. Barring an extended crypto rally, the first major resistance is likely to cap the upside. On the downside a fall below $301 levels, will bring the first major support level $ 295.9 level in play.

Pancake Swap

Currently trading at $18.55 levels, is up by 0.87%. Pancake has been very indecisive on the daily chart. The coin reached an intraday low at $18.33 levels, owing to dominance from buyer’s side. However, this was immediately reversed with high pressure from supplier’s side causing the coin to reach early intraday high at $18.88 levels after breaking the first resistance sitting at $18.79 levels. Without losing its momentum, Pancake Swap tested the second resistance level and reached $19.13 levels. XRP is currently rallying downwards at the time of writing. Leaving the major support levels untested Cake has fallen below $18.56 levels.

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Market Indicators:

Hourly RSI: The hourly RSI is moving currently upwards, and is now 46.24 levels; it is likely to go even more up till 60 levels.

Fibonacci Retracement levels: 23.6%: $18.20, 38.2%: $18.39, 61.6%: $18.54

Major support level: $17.90

Major resistance level: $18.91

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Conclusion:

The first major support level sits at $18.39, a fall below that would bring the second major support level at $18.20 cushioning the breakout. On the upside, the resistance level sits at $18.70, barring a broad-based crypto rally.

PolkaDot

Graph is currently trading at $1.0586 down by 0.77%. Graph’s, daily chart has been very indecisive, as the coin was seen making high highs and low lows. Graph started off the day at $1.0791 levels, reached early intraday high at $1.0924 levels, and rallied down till $1.0711 levels. Later, it made a bearish reversal and the coin reached its late intraday high at $1.1098 levels. The overall structure of coin therefore looked very indecisive, owing to constant push and pull from the buyer and seller’s side. Looking at the current momentum PolkaDot is likely to breakout on the upside.

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 Market Indicators:

Hourly RSI: The hourly RSI is moving currently towards 50 levels, showing mild price weakness.

Fibonacci Retracement levels: 23.6%: $1.0627, 38.2%: $1.0812, 61.6%: $1.0963

Major support level: $1.0328

Major resistance level: $1.1324

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Conclusion

Graph is looking mildly bullish. On a daily chart its strong sell range is between $1.0913 and $1.1011 and its major buy range between $1.0541 and $1.0746 levels.

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