AAVE Price Declines 17.07% Amid Bearish Market Indicators
Aave (AAVE) experienced a 17.07% price decline over the past week, with current trading at $290.04 after a slight gain of 2.48% in the last 24 hours. However, bearish indicators suggest further potential losses.
Potential for 30% Decline
- The TD Sequential indicator shows a sell signal on AAVE's weekly chart.
- If this signal holds, AAVE could drop to approximately $264 or potentially $203, indicating a 29.5% decline.
- The Relative Strength Index is at 62.57, signaling further possible declines.
- AAVE's 100-day simple average is significantly below the current price, reinforcing bearish sentiment.
- Daily trading volume has decreased by 48.99%, suggesting easing selling pressure.
Aave V4 Launch Preparations
- Aave registered $35 billion in total net deposits, an all-time high since 2021.
- The protocol is set to launch its V4 network upgrade, which will introduce advanced risk tools and unified liquidity.
- AAVE ranks as the second largest DeFi protocol with a Total Value Locked (TVL) of $20.4 billion, following Lido Finance at $31.60 billion.
