AAVE faces selling pressure but still has potential: Will it break through $300 or continue to rise?

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As market turbulence and uncertainty increase, AAVE's bullish momentum is under pressure. Despite a short-term decline of 8.32%, AAVE still holds a market capitalization of $5.1 billion, with a 106% increase over the past 30 days. The current price is $340, and although technical charts indicate a risk of short-term pullback, AAVE still possesses long-term upward potential, especially in the context of Trump's promise to implement smooth regulations in 2025.

Technical Analysis and Support Levels

AAVE's 4-hour chart shows a bearish breakout, with the price testing the central support level of $329.68. The current market price has rebounded by 5.61%, without retesting the long-term support line. The RSI is close to the oversold zone, increasing the chances of a reversal.

Whale Market Actions

Despite AAVE facing a drop, whales continue to accumulate at lower price points. Recently, a whale purchased 96,800 AAVE tokens at a price of $183.4, valued at $17.8 million, reflecting strong confidence in AAVE.

AAVE Price Target

If the market stabilizes, AAVE may test the resistance level of $434.39. However, if Bitcoin drops below $100,000, AAVE's price may break below the support line and test the critical support levels of $285 and $263.

In summary, although AAVE faces challenges in the short term, with strong fundamentals and support from whales, it may still continue to rise in the bull market.

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