Aave

bullish

2024

when

<p>Whales in the <a href="https://www.thecoinrepublic.com/price-prediction/aave/">Aave crypto</a> ecosystem have been making headlines for accumulating tokens. This is while plenty of the market has been hit by downtrends. </p> 
<p>One Aave Whale has recently added a bunch of tokens to their holdings. He boosted his AAVE position by 9,702 tokens. </p> 
<p>This investor has made a daring move amid a broad market shakeout. This comes after making $15.3 million in profits from earlier investments. </p> 
<p>On average, the whale has spent $183.4 per token to buy 96,800 Aave tokens since October 13. There’s an investment of $17.8 million in total.</p> 
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   <p lang="en" dir="ltr">A whale with a $15.3M profit continues to expand its <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> long position after the price dropped today!<br><br>In the past 8 hours, the whale borrowed 3M <a href="https://twitter.com/search?q=%24GHO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GHO</a> and spent $3.18M (in <a href="https://twitter.com/search?q=%24GHO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GHO</a> and <a href="https://twitter.com/search?q=%24WBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$WBTC</a>) to buy 9,702 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>.<br><br>Since October 13, the whale has purchased 96,800 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> at an average… <a href="https://t.co/9otB6zRlTC">pic.twitter.com/9otB6zRlTC</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1869669161359851586?ref_src=twsrc%5Etfw">December 19, 2024</a>
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<h2 class="wp-block-heading" id="h-market-context-and-whale-activity"><strong>Market Context and Whale Activity</strong></h2> 
<p>It also stands out at a time when the Aave crypto token is in relatively weak shape. For the past 24-hours, Aave has lost over 10% of its value, along with the bulk of the crypto market. </p> 
<p>Despite this, the whale has shown a strong bullish sentiment. In particular, the whale additionally borrowed funds amounting to 3 million GHO and ~$3.18 million of GHO and WBTC assets as a way to increase their commitment to the Aave debt market.</p> 
<p>As per the expert’s analysis, Aave crypto is in an uptrend with a peak of $402.43 perhaps acting as a strong resistance level. </p> 
<p>The probability of closing a short position profitably is shown. The experts argue that AAVE in a rate-cut environment is leading to initial bullish sentiment. This is due to the broader economic and Ethereum beta rally.</p> 
<p>However, he states that the shift in sentiment after hawkish comments from JPow shows how macroeconomic indicators could affect the token. </p> 
<p>He states that when monetary policies take a hawkish orientation, it causes declines in risk assets and triggers the strategic short position. </p> 
<p>In addition, the implication of previously bullish catalysts in the form of “liquidity V2, Trump buying, Blackrock involvement” implies near-top levels for Aave. </p> 
<p>According to him, this is an easy invalidation setup for short trades. This is because these catalysts either faded or were already priced into the market.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> short is now closed. This was the easiest $80k I've made all month and the best spot long exit I could ask for<br><br>Yesterday I sold my spot bags from $88 (proof attached below) and flipped short<br><br>– MKR vs AAVE was a big discussion point early 2024 and AAVE was the DeFi asset… <a href="https://t.co/G2j8JbRDQS">pic.twitter.com/G2j8JbRDQS</a></p>— Crypto Bully 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@BullyDCrypto) <a href="https://twitter.com/BullyDCrypto/status/1869873013187051626?ref_src=twsrc%5Etfw">December 19, 2024</a>
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<h2 class="wp-block-heading" id="h-technical-analysis-and-market-outlook"><strong>Technical Analysis and Market Outlook</strong></h2> 
<p>From a technical standpoint, we notice that Aave crypto has been getting rejected multiple times at the current resistance zone, having touched this zone many times before. </p> 
<p>This implies that there was strong selling pressure at these levels. From this, a descending channel is highlighted in the blue-shaded area with a downward trend over the observed period. </p> 
<p>This is a typical bearish market condition when the price makes lower highs and lower lows.</p> 
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   1-hour AAVE/USDT Chart | Source: TradingView
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<p>We also see a blue horizontal line which is acting as a support level or a psychological price level (around $300), standing as a key point from which future price actions will be made. </p> 
<p>If the price touches these levels, this area might be a strong support zone and the price could stabilize or even reverse here. </p> 
<p>If Aave finds support near the support area we could see a bullish projection here. We now see that the price is consolidating around this support area, hinting at the possibility of a run back up to the resistance area should it find support.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/12/20/aave-crypto-whales-keep-accumulating-despite-market-shake-out/">Aave Crypto Whales Keep Accumulating Despite Market Shake Out</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Aave Crypto Whales Keep Accumulating Despite Market Shake Out

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