Ethereum

Aave

Cardano

Divergence

<div class="dailyhodl">
 <p>An Ethereum (ETH)-based native token for a decentralized finance (DeFi) project is flashing a couple of bullish divergences, according to the crypto analytics firm Santiment.</p>
 <p>Aave (AAVE), a DeFi lending protocol, is trading at $93.89 at time of writing and is up more than 2.3% in the past 24 hours.</p>
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 <p>Santiment notes that the asset’s top 150 non-exchange wallets now hold 9.61 million AAVE, a five-month high.</p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GBKooECbMAEPxsf?format=jpg&amp;name=4096x4096" alt="" width="1063" height="499">
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   Source: Santiment/X
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 <p>The analytics firm also says AAVE’s Relative Strength Index (RSI) has dropped below 40, which has historically been a “bounce zone” for the asset.</p>
 <p>The RSI is a widely used momentum indicator that aims to determine if an asset is overbought or oversold. The indicator scales from 0 to 100, and a reading of below 30 is typically considered bullish while a reading of over 70 is typically considered to be a bearish sign.</p>
 <p>In terms of other crypto assets, Santiment notes that Ethereum competitor Cardano (ADA) noticed a sudden loss of small wallets back in mid-November.</p>
 <p><em>“A drop of addresses this size or smaller often indicates capitulation, and a potential price turning point. ADA is +65% since.”</em></p>
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GBJnUwMaAAAaE-7?format=jpg&amp;name=4096x4096" alt="" width="1063" height="499">
  <figcaption id="caption-attachment-190710" class="wp-caption-text">
   Source: Santiment/X
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 <p>ADA is trading at $0.635 at time of writing. The eighth-ranked crypto asset by market cap is up nearly 8% in the past 24 hours.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-defi-altcoin-showing-bullish-divergence-as-indicator-enters-bounce-zone-santiment-tbt73750.html">https://thebittimes.com/ethereum-defi-altcoin-showing-bullish-divergence-as-indicator-enters-bounce-zone-santiment-tbt73750.html</a></p>

Ethereum DeFi Altcoin Showing Bullish Divergence As Indicator Enters ‘Bounce Zone’: Santiment

TheBitTimes

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