AAVE Struggles to Break Above Resistance at $90-$92

AAVE is currently stuck below a strong resistance cluster at $90-$92. Despite top trader accounts being 60% long, the price action suggests that this bounce might be just that, a bounce.

The moving averages are all acting as ceilings, with the 20-day MA at $90.03 and the 50-day MA at $91.69 both above AAVE's current price of $88.63. The only support level AAVE is riding above is the weak 7-day SMA at $87.51.

The MACD histogram has compressed to dead zero, indicating a lack of momentum in either direction. When a bearish trend pauses like this without a real bid stepping in, it often resolves back into its original direction, lower.