AAVE Faces Potential 31% Correction After Rejection at $335 Resistance

Aave (AAVE) shows signs of market exhaustion after a price rally in August, with a 12.03% decline over the last 48 hours following rejection at $335. Analyst Ali Martinez highlights a potential downside risk due to a double-top pattern, indicating further declines if key support levels fail.

AAVE Faces Double-Top Risk: $230 Target Looms If Key Supports Fail

AAVE has formed a double top pattern, signaling bearish momentum.
Key support between $300-$310 has been breached.
Critical levels to watch are $278–$280; a break below could lead to a drop toward $230.
A recovery above $278-$280 could allow AAVE to retest $335 and possibly reach $370.

AAVE Surpasses $3 Trillion In DeFi Deposits

Aave has recorded over $3 trillion in deposits since its launch in December 2020.
Total value locked (TVL) currently stands at $37.15 billion across multiple chains.
AAVE trades at $296, with a 0.71% loss in the last 24 hours and 7.55% down monthly.
The year-on-year profit is 168.77%, maintaining its position as a leading token.
Aave remains among the largest 40 cryptocurrencies by market cap amid potential altseason.