Well, well, well… look what we have here. AAVE decided to do a little dance, bouncing off that pesky $240 — probably thanks to some whales who think buying the dip is the new black. But hold onto your hats, folks, because the momentum? It’s looking shabbier than my last Tinder date—that’s right, fading fast. 🚀💥
Today’s hero: Aave (AAVE). It took a dive from $264 yesterday, like that friend who drinks too much at the party, but now it’s back up, giving us hope—sort of. The reason? Big fish — or shall we say, whales — decided to scoop up a ton of tokens. Who knew whales loved a good bargain?
According to some savvy on-chain sleuths at Lookonchain, two massive whale wallets pooled together nearly 30,000 AAVE—valued at about $7.5 million—just in the last 14 hours. One even borrowed $5 million USDC from the protocol to snag 19,608 AAVE — because why not? – and now holds over 280,000 tokens. The other whale? Borrowed $2.5 million GHO to grab 10,131 AAVE, stacking up their holdings like a kid with too many cookies. 🤷♂️🍪
So, sure, whale activity is bullish, like that one overly enthusiastic guy at the gym. But technical indicators? They’re acting like your skeptical next-door neighbor—talking about weakness and bad signs. On the daily chart, AAVE’s testing support at $248-$250, which is right on the EMA 20—basically the equivalent of walking a tightrope without a safety net. 🎪
Despite dreaming of higher highs since April, the momentum is doing its best impression of a deflating balloon—MACD has crossed to the bear side, and RSI is just hanging out above 50, suggesting bulls are losing steam. If it drops below $248? Watch out for targets at $235 and $220 — support zones from the good ol’ days when everyone was optimistic. But hey, if it holds, maybe the bulls will try to climb back up, aiming for resistance at $280. It’s all about whether this is a healthy dip or the start of a downward spiral faster than your favorite series cancelation. 📉😅
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2025-06-06 14:20