AAVE Price Consolidates Around $124 as Smart Money Loads Up
The price of AAVE has been consolidating around $124 after being rejected at $129. The market is showing signs of accumulation, with a 7.47% surge in open interest and smart money leaning long with 60.7% exposure.
The Moving Average Convergence Divergence (MACD) histogram is flat, indicating indecision rather than bearish capitulation. The Relative Strength Index (RSI) is above mid-range, and the Stochastic %K has crossed above %D in the low-60s, showing that buyers haven't given up.
The $124.96 pivot is acting as a gravitational center, and AAVE is dancing around it. The asset is trading 20% above its 50-day moving average and nearly 30% above its 200-day moving average, indicating an uptrend.
Key levels to watch are $129.03, which marks the first resistance level, and $119.74, which holds the entire short-term bullish structure. A daily close below $119.74 would invalidate the near-term long thesis and send AAVE to $115.67.