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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Aave (LEND) Parabola Breaks, Could An Over 80% Correction Follow?

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
2 mins read

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After a substantial, over 675% two-month rally, the altcoin called Aave may finally about to be tamed. A parabolic curve the crypto asset has been following has now been breached, and as we’ve learned from the crypto bubble, a potential 80% or more correction is possible.

Is the powerful LEND trend ready to come to a bitter and abrupt end?

Aave DeFi Token Defies Gravity With Over 675% Two-Month Rally

DeFi tokens have been unstoppable lately, with a new finance-focused altcoin stealing the limelight each passing week. Since the start of June, however, it’s been all about Aave (LEND), a protocol aimed at providing interest for lending crypto assets.

Aave took the spotlight from Compound, another DeFi token with similar goals, and has quickly gobbled up market share in total value locked up.

Related Reading | Be Wary Searching For The Next DeFi Star Warns Crypto Advisor

LENDUSDT has been in a steady, explosive uptrend over the last two months with barely any significant pullbacks of note. In less than two full months, the crypto altcoin grew by over 675%. In July alone, which is only three weeks in, Aave is up over 180%.

The price action and momentum has been carried by a parabolic support curve, with an increasingly steep angle. As the price of LENDUSDT climbs, the slope of the angle increases. Price action went practically verticle at more than 40% trend angle, but the parabolic advance has since been broken.

aave lendusdt lendbtc lendusd parabola

Aave LENDUSDT Daily Parabolic Curve | Source: TradingView

Break of Parabolic Trend Results In 80% Or More Correction, As Bitcoin Has Proven

And as crypto investors have time and time again learned the hard way, what goes up, must come down. Crypto assets come down even more violently than they rose, often resulting in over an 80% decline after parabola is broken.

Using such data from past market intelligence, analysts like Peter Brandt were able to call for Bitcoin’s 84% drawdown almost a year in advance. If a similar drop in Aave on LENDUSDT price charts occurs, the asset could drop from a value of roughly 37 cents to just around a nickel per LEND token.

Related Reading | Three Signs the Explosive LEND Crypto Trend Could Come To An End

It also would set the last two-month rally back nearly to the beginning, keeping only meager returns for early investors.

Such a sizable drop would take the momentum out of the DeFi project that was once defying gravity with its enormous climb. It also could take a dent out of the DeFi bandwagon as a whole, which has recently come under scrutiny.

Analysts warn that although there is real value being generated in the budding industry of decentralized finance, hunting for the next big DeFi project may prove dangerous.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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