Aave Price Crashes 11% Amid Bearish Trend

Aave's price has fallen by 11% in the past 48 hours, dropping from its high of $101.57 on July 31st to its current level.

The decline is attributed to a bearish trend that began with the token's failure to rise above $100 resistance over the past week.

Data from Coinalyze shows a 5% drop in Open Interest and a declining Spot CVD, indicating selling pressure in both the speculative and derivatives markets.

The short-term outlook for Aave remains bearish, with the token's price likely to continue its downward trend if it fails to hold above $88 support.