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Polkadot, IOTA, Aave Price Analysis: 25 January



Source: Pixabay

Polkadot broke out of a range and moved lower to retest the range highs, projecting an upside target of $21 should the $18.2 region hold steady. IOTA was in a period of consolidation, and Aave showed strong bullish momentum as it surged to a high of $280 before facing some selling pressure.

Polkadot [DOT]

Polkadot, IOTA, Aave Price Analysis: 25 January

Source: DOT/USDT on TradingView

DOT appeared to break out of the range it established between $14.95 and $18.25. A retest of the upper boundary and a move upwards will project a target of $21 for DOT, while a rejection back into the range will see DOT retest the $16.5 level of support.

The Awesome Oscillator showed weak bullish momentum. It should be watched closely as the formation of a lower second peak above the zero line would give a sell signal, due to the formation of bearish twin peaks.

The breakout had high trading volume but the reaction of DOT in the $18.2 region remains to be seen and will clarify market sentiment based on a rejection or flip to support.


Polkadot, IOTA, Aave Price Analysis: 25 January

Source: IOTA/USD on TradingView

IOTA held steady at the $0.45 level of support. Its trend over the past three weeks has been bullish, but it also faced significant resistance from the $0.5 region that has not allowed the price to rise beyond the $0.45 support.

Trading volume has been fairly constant as IOTA appeared to consolidate at the $0.46 mark over the past few days. The MACD showed neutral momentum as well.

Rising above $0.5 with strong volume would likely see IOTA test the $0.54 level of resistance.

Aave [AAVE]

Polkadot, IOTA, Aave Price Analysis: 25 January

Source: AAVE/USDT on TradingView

Both the RSI and the Stochastic RSI indicators were far into the overbought territory on the 4-hour charts. This by itself does not necessitate an immediate pullback. However, the past few hours saw AAVE push toward the $280 mark but was met with selling pressure as evidenced by the upper candlewicks.

Moving beneath the $250 region will likely see AAVE dip to $235 to find support, with the $200-$210 region of support further south as well.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.