AAVE Price Plummets 8.78% in Single Session, Whale-Tier Traders Remain Long
The price of AAVE plummeted by 8.78% in a single session, reaching a daily low of $136.28. However, despite the significant drop, whale-tier traders are positioned 60% long and open interest has surged 6.29%. This raises questions about whether the price is experiencing a genuine breakdown or a coordinated shakeout designed to remove retail stops.
The medium-to-long-term uptrend remains intact, with AAVE comfortably above its major structural averages. The 50-day average sits at $118 and the 200-day at $98.38. Sharp single-day flushes within broader uptrends are often engineered, not organic, which suggests that today's price action may be part of a larger strategy.
The technical indicators paint a mixed picture. Momentum has gone completely dead, with the MACD histogram printing zero. However, the Bollinger Band setup is notable, with the middle band converging almost perfectly with the immediate support level at $131.47.