Whale Purchases $5M in AAVE as Price Tests Resistance Level
DeFi protocol Aave's native token, AAVE, is trading at approximately $277, having increased by 3% in the last day. The price surged from a low of $125 earlier this month, resulting in a 63% gain over the past 30 days and adding over $1.6 billion to its market capitalization.
- Whale wallet 0x372c purchased 18,627 AAVE for about $4.96 million recently.
- This wallet has accumulated a total of 118,768 AAVE, valued at approximately $29.14 million since May 1, holding a total of 261,064 AAVE worth around $69.8 million.
- AAVE is testing a key resistance zone between $240 and $280; breaking this level could lead to a target of $400.
- The RSI indicates potential short-term consolidation or pullback, while strong buying momentum remains.
- Bollinger Bands suggest high volatility but continued bullish pressure above the mid-band around $240.
- AAVE is currently down 63% from its all-time high of $666.86 reached in 2021.
Research platform CryptoBullet suggests AAVE may be aiming for a new all-time high.