The AAVE token price has shown signs of bull accumulation by forming a double bottom near $80 and bouncing back by more than 16% in the recent sessions. Investors are eager to keep the price above $100 in an attempt to reverse the trend. However, the market sentiment remains neutral with strong resistance from sellers.

Currently, the Aave token (ATOM) is trading at $92.03 with a 3.80% intraday gain, indicating a balanced market outlook. The monthly return is at -27.90% and the yearly return stands at 28.90%. As of now, the AAVE/BTC pair is at 0.00144 BTC with a market cap of $1.39 Billion. Analysts have a neutral stance but foresee a possible trend reversal leading to the token surpassing the $100 mark soon.

AAVE Price Volume Profile Analysis on the Daily Chart

Analyzing the daily chart, it is observed that the AAVE token is trading close to a critical level where sellers are reducing their positions due to fear. Buyers are aiming to hold the $100 mark and are beginning to accumulate. The intraday trading volume has decreased by 27.91% to $51.89 Million.

Price Volatility and Weighted Sentiment Outlook

Despite a slight pullback in price volatility after the recent rebound, the weighted sentiment remains neutral with a value around -0.294.

Social Dominance and Social Volume AI Insights

Data from Santiment shows a notable increase in social dominance by 11.19% to 0.054%, reflecting a neutral sentiment among investors. Social volume data has remained stable below the midline around 2.

Development Activity and Total Open Interest Insights

Development activity has declined significantly in recent weeks, indicating a negative outlook. Derivative data suggests long unwinding activity with a drop in open interest by 7.82% to $26.02 Million.

The AAVE price is currently above the 23.6% Fib level but below the 38.2% level. The RSI curve is in oversold territory with a positive crossover observed on the charts.

In conclusion, the Aave crypto is fighting to maintain the $100 mark after bouncing from the $80 demand zone. The current trend is negative, and a sustained push above $100 is needed to reverse the trend.

Technical Levels

Support Levels: $85 and $75

Resistance Levels: $100 and $110

Disclaimer

The information provided in this article is for informational purposes only and should not be considered as financial or investment advice.