The ongoing Aave price stick can approach its end as a risky graph pattern shapes and whale accumulation stalls.
Summary
- A price rose from the lowest level in April by 185%.
- It has formed a double top pattern on the weekly graph.
- Smart money and whale activity has decreased in the last two weeks.
Aave (Aave) token peaked at the weekend at $ 326, an increase of more than 175% compared to the lowest level in April this year. It floats near his highlights of December 2024, giving it a market capitalization of almost $ 5 billion.
A price has been in a strong bull run in recent months because network growth has been accelerated. Defillama data shows that the total value that is locked in its ecosystem has risen to a record height of $ 41 billion, almost double what it started year.
According to its website, the amount of liquidity on its platform has risen to more than $ 63 billion, making it larger than many American banks.
This growth has led to a major leap in its monthly costs. According to Token -terminalIt has yielded $ 80 million in reimbursements, increased by 7.2% compared to the $ 74.7 million of July and the $ 50 million of June.
The rising reimbursement collections have also increased the value of his treasury. Aave now has $ 235 million in assets, an increase of $ 176 million in April.
Although the network is doing well, there are signs that the price is starting to lose the momentum. Nansen -Data show that whales have 183,116 Aave -Tokens worth more than $ 59 million. Although the companies have risen by 15% in the last 30 days, they have not bought it since 14 August.
Smart Money Investors, known for buying low and high sales, have reduced their participations to 293,000 compared to the high of this month of 294,000. That is a sign that they expect the Aave price to withdraw.
Moreover, the token stock on exchanges has risen to 5.42 million from the low point of 5.4 million, a sign that investors started selling their tokens.
Aave Price Technical Analysis
The weekly Time Frame graph shows that the Aave price has been in an uprising in recent weeks. It jumped to a highlight of $ 377, an increase compared to the low point of $ 113.
Aave has remained above the exponential advancing averages of 50 weeks and 100 weeks, which is a bullish sign. However, there is a risk that it has formed a double top pattern of which the neckline is at $ 113.8.
That is why token is likely to have a withdrawal as long as it stays below the double point at $ 377. Such a step will see it fall to the 100-day advancing average for $ 190.
