AAVE's Recent Momentum

AAVE's market performance has been outstanding recently, surging by 32.08% in the past month and 16.42% in the past week. This positive trend has placed AAVE among the top performers in the crypto market.

Potential for a Decline

Despite these strong gains, emerging data suggests AAVE's rally is likely to slow, potentially leading to a significant drop in its trading value. AAVE has encountered a four-hour resistance level at $146.69, coinciding with high selling pressure that could drive the price lower.

Support Levels and Downside Risk

Should the support level of $140.06 to $136.12 break, AAVE's price could decline further, potentially falling as low as $123.18 due to intensified selling pressure.

Rising Exchange Supply

CryptoQuant data showed an increase in exchange supply over the last 24 hours, with 2.5 million AAVE now available across multiple cryptocurrency exchanges, which could negatively impact the token's price.

Source: https://ambcrypto.com/aave-recent-gain-tested-by-market-resistance-what-lies-ahead-for-the-crypto/

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