Whales are selling Aave (AAVE) despite GHO supply growth
Market Movements and Selling Pressure: Aave (AAVE) is experiencing selling pressure as large holders, including whales and market makers, are moving tokens to centralized exchanges like Binance and OKX, potentially hindering its growth after a recent rally.
Protocol Developments and Future Prospects: Despite the current downward pressure and a significant drop from its peak, Aave continues to grow its lending pools and has plans for a buyback program that could positively impact its price, while GHO supply increases without immediate signs of token burns.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for AAVE
Technical Sentiment Analysis for Aave (AAVE) As of , Aave (AAVE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for AAVE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, AAVE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Aave (AAVE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 47.938 | 70.094 | 94.298 | 116.454 | 140.658 | 162.814 | 187.018 |
| Fibonacci | 70.094 | 87.804 | 98.744 | 116.454 | 134.164 | 145.104 | 162.814 |
About AAVE
About the author
