Aave Crashes 11% After Failing to Conquer $100 Resistance

Aave's price fell by 11.2% in the past 48 hours after failing to break through the $100 resistance zone.

The token had reached a high of $101.57 on Friday, July 31st, but declined sharply afterwards.

According to Coinalyze data, there was a 5% drop in Open Interest in the past 24 hours, indicating selling pressure in both the speculative and derivatives market.

The short-term outlook for Aave is bearish, with technical indicators showing strong capital outflows and a downtrend in progress.