Uniswap and AAVE prices hang precariously above crucial support lines. UNI/USDT and AAVE/USDT could likely sink further below $15 and $220, respectively.
The world's most liquid DEX governed by UNI now manages over $3.4 billion of digital assets.
Bulls are being obliterated as bears now aim to push UNI prices below $15.
Still, UNI is the most valuable DeFi asset at present rates, perched at 11th in the market cap leader-board.
Overly, UNI remains under pressure, sliding 10 percent on the last trading day and double digits week-to-date versus the greenback. As bears pour in, $20 remains a critical resistance level for UNI bulls.
UNI/USDT prices are boxed within a $5 zone with caps at $15 and $20, respectively.
If buyers are to wrestle control from bears, there should be a high volume close above $20, signaling the end of the unforgiving bear market of May and June 2021.
On the reverse side, losses below $15 could be consequential, possibly triggering a sell-off that may see UNI crumble to $10—or worse.
UNI prices are wavy inside a $5 zone. Despite the optimism, UNI sellers are well-placed reading from price action in the daily chart.
A close below $15 with high trading volumes could see UNI/USDT slide towards $10—an opportunity for sellers in a buy trend continuation.
On the other hand, UNI bulls would be firmly in control if there is a surge past $20, invalidating last week's bears.
The lending and borrowing platform on Ethereum plans to launch a Twitter version on Ethereum. AAVE is the protocol's native currency.
AAVE is under pressure, carving in below critical resistance level.
Technically, candlestick arrangements favor bears, who may further force AAVE prices lower in a bear trend continuation.
At the time of writing, AAVE is down double-digits in the last week of trading, shedding 22 percent.
Unrelenting sellers have hammered DeFi tokens.
AAVE is down over 60 percent from peaks and could fall even more in the days ahead as long as $300 remains a strong liquidation line.
From the daily chart, AAVE is rebounding from the 38.2 percent Fibonacci retracement level of the May and June 2021 trade range.
Every low below $300 may present an unloading opportunity for sellers angling for $150 in the medium-term.
If losses below $200 are sustained, it could open the flood-gates, accelerating the AAVE sell-off.