Aave [AAVE] experienced remarkable growth in 2024, tripling its loan volume to $10 billion and increasing its total value locked (TVL) by 26.7% to $15.96 billion. Aave’s revenue also surged by an astounding 1,628%, reaching an annual total of $113.84 million.
Despite these impressive achievements, Aave faces new market challenges. The question remains whether it can sustain this momentum or if external factors will slow its ascent.
Breaking Resistance: Is Growth Continuing?
Aave is currently trading at $176.27, reflecting a modest increase of 0.56% over the past 24 hours.
Recently, Aave broke through the key resistance at $161.21 and successfully retested this level as support, providing a solid foundation for further growth.
If Aave holds above $176, the next targets are $183.75 and ultimately $200.
Technical indicators support this bullish scenario:
MACD showed a positive crossover, indicating continued upward momentum.RSI at 52.49 suggests that Aave still has room to grow before reaching overbought conditions.
These factors position Aave strongly for continued growth.

Increase in Exchange Reserves: A Sign of Selling Pressure?
Aave’s exchange reserves increased by 0.91%, reaching $2.629 million. This indicates a slight rise in selling pressure as more tokens are held on exchanges.
While this increase is notable, it is not yet significant enough to disrupt Aave’s bullish trend. However, monitoring this metric in the coming days will be crucial.
If reserves continue to grow, it could signal a potential shift in price action, but for now, the situation remains manageable.

Growing User Base and Transactions
The number of active addresses increased by 1.07%, while total transactions rose by 1.03% to 4.117 million.
This growth indicates greater user engagement and increasing adoption of the Aave platform.
The expanding user base and activity levels strengthen the case for continued price appreciation of AAVE.

Stable Liquidations: A Calm Market?
Over the last 24 hours, liquidations have remained stable:
$650.74K in long liquidations$341.22K in short liquidations
These figures are within expected ranges and do not indicate significant volatility. However, a sharp increase in liquidation volumes could signal heightened market instability. For now, the market sentiment remains positive, supporting the continuation of the bullish trend.

Can Aave Reach $200?
2024 has been an impressive year for Aave, and technical analysis suggests further growth is possible:
Successful retesting of the $161.21 support levelStrong signals from indicators such as MACD and RSI
If Aave maintains support at $176 and sustains its current growth momentum, reaching the $200 mark is well within reach.

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Aave is under pressure as large investors, known as whales, are selling off their holdings amidst an overall price decline.
Aave Experiences a Persistent Price Decline
In the past five days, Aave (AAVE) has shown five consecutive red candles on the daily chart, indicating a continuous drop. After reaching a local high of $158 at the end of October, Aave’s price dropped 14% to its current level around $129. Although there is a slight recovery today, Aave is still searching for bullish momentum in a highly volatile market environment.
The broader market is experiencing mild recovery due to events related to the U.S. elections, reflected in Aave’s 1.1% gain today. However, without breaking through key resistance levels, Aave remains vulnerable to further declines.
Whales Are Significantly Selling Off Their Aave Holdings
One of the reasons for Aave’s price drop is a series of large sales from key investors. According to Lookonchain data, significant whale transactions have been directed to exchanges, signaling potential sell-offs.
For example, wallet address 0x7634 moved AAVE worth $3.39 million to the MEXC exchange, possibly indicating an intention to sell. Other notable transactions include a $1.04 million transfer to Binance, a $1.29 million deposit to OKX, and another $1.02 million to Binance over the past 24 hours. These large movements indicate that whales are reducing their Aave positions, putting downward pressure on the asset’s price.
Does AAVE Have a Chance to Survive This Sell-Off?
At the time of writing, Aave has risen by 0.66% and is trading at $129.65. However, over the past seven days, the price has dropped by 15.74%, and its market capitalization has fallen to $1.94 billion.

The daily chart (DMI) confirms a bearish trend: -DI stands at 27.6, indicating strong selling pressure, while +DI is at 13.8, showing weak buying interest. ADX is at 19.8, indicating a low trend strength and a potential period of price consolidation. This situation could provide bulls with an opportunity to reduce selling pressure.
The chart further shows that the current price is holding just above the support level at $126.2. If the price drops below this level, Aave could face another dip below $120.
To reverse sentiment and shift the trend, Aave would need to reach the pivot level at $147.12, representing a 13.5% increase from the current price. Even then, Aave would face additional resistance levels at $160.04, $168.03, and $180.96.
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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“