AAVE experienced a strong bullish expansion after reclaiming support near the $74 region, generating enough momentum to push price toward the $84-$85 resistance zone. The move represented a clear shift in market sentiment, with buyers aggressively driving price higher. However, the latest rejection from resistance has introduced a new dynamic into the chart.
The sharp selloff following the rally suggests profit-taking and fresh supply entering the market near recent highs. This type of reaction often occurs when liquidity above previous highs is collected before a corrective move develops. From a technical perspective, the $74-$76 zone remains the most important support area. A revisit to that region would allow the market to test whether buyers still have enough conviction to maintain the broader bullish structure.
While the recent rejection favors short-term downside, the larger trend remains constructive unless key support levels fail. The next interaction with demand will be crucial in determining whether AAVE resumes its uptrend or enters a longer consolidation phase.
$AAVE
The sharp selloff following the rally suggests profit-taking and fresh supply entering the market near recent highs. This type of reaction often occurs when liquidity above previous highs is collected before a corrective move develops. From a technical perspective, the $74-$76 zone remains the most important support area. A revisit to that region would allow the market to test whether buyers still have enough conviction to maintain the broader bullish structure.
While the recent rejection favors short-term downside, the larger trend remains constructive unless key support levels fail. The next interaction with demand will be crucial in determining whether AAVE resumes its uptrend or enters a longer consolidation phase.
$AAVE