- The Long/Short Ratio stood at 1.14, a number that screams, “We’re all in!” like a gambler at a high-stakes poker table.
- On-chain metrics revealed that exchanges have witnessed an outflow of AAVE worth $2.5 million, because apparently, even crypto whales need a rainy-day fund.
Aave [AAVE] appeared bullish, strutting its stuff on the daily time frame like a peacock in mating season, seemingly preparing for a massive upside rally.
During the recent price drop, the asset fell to a crucial support level of $285, a level so reliable it’s practically the crypto equivalent of a trusty old pair of boots.
Since the beginning of December 2024, AAVE has reached this support level multiple times, each time experiencing a massive upside rally or a price reversal, like a boomerang that just won’t quit.
However, the market sentiment currently seems to be recovering, which appears to be supporting the altcoin, because even crypto needs a little pep talk now and then.
$2.5 million AAVE outflow
With the token’s bullish momentum, traders and investors have shown strong interest and confidence in AAVE, according to CoinGlass, because who doesn’t love a good underdog story?
Data from Spot Inflow/Outflow reveals that exchanges have witnessed an outflow of AAVE worth $2.5 million in the past 24 hours, because apparently, even crypto whales need a little “me time.”
When exchanges see token outflows, it typically indicates that whales or long-term holders are accumulating, as they withdraw assets to their wallets. This outflow can create significant buying pressure and drive an upside rally, because nothing says “bullish” like a whale on a shopping spree.
Traders’ strong bullish bets
In addition to the participation of whales and long-term holders, traders are also strongly betting on the long side, indicating a bullish signal, because when the going gets tough, the tough get bullish.
At press time, the coin’s Long/Short Ratio stood at 1.14, suggesting strong bullish sentiment among traders, because apparently, 1.14 is the new “all in.”
With strong participation from crypto giants, AAVE was trading near $308.50, at press time, experiencing a price surge of over 4.50% in the past 24 hours, because even crypto needs a little caffeine boost now and then.
Additionally, during the same period, data reveals that the asset’s trading volume has increased by 12%, because apparently, 12% is the new “let’s get this party started.”
AAVE technical analysis and price prediction
Besides the positive outlooks around the token, AMBCrypto’s technical analysis suggests the token is on the verge of a 30% rally. This prediction is based on the formation of a bullish double-bottom price action pattern on the daily time frame, because even crypto charts need a little drama.
Read Aave’s [AAVE] Price Prediction 2025–2026
For this significant upside rally to occur, AAVE must maintain itself above the $285 level. Otherwise, it may fail, because even crypto needs a little self-discipline.
At the time of writing, the asset was trading above the 200 Exponential Moving Average (EMA) on the daily time frame, indicating an uptrend, because apparently, even crypto needs a little upward mobility.
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2025-01-31 07:09