, a top player in decentralized finance , is currently facing heightened selling pressure as prominent investors—often referred to as “whales”—are offloading considerable holdings. Recent data highlights major transfers to exchanges, including Binance, MEXC, and OKX.
At press time, AAVE was trading at $129.58, up by a slight 0.14% over the past day. This wave of large transactions raises the question: Is AAVE experiencing a short-term dip, or is this the beginning of a larger sentiment shift?Technical indicators provide a mixed outlook for the price movements. The Bollinger Bands reveal increased volatility, with the price nearing the lower band, suggesting bearish momentum. This downward pressure could lead to further declines if selling persists.
However, without stronger buying activity, the bearish trend could continue. Therefore, traders should exercise caution, especially if it remains close to the lower Bollinger Band.Despite the whale-driven selling pressure, on-chain metrics indicate steady engagement. The transaction count currently stands at 2.67K, a modest increase of 1.03% over the last 24 hours, while active addresses grew by 1.08% according to CryptoQuant.
This imbalance points to a prevailing bearish sentiment, as traders continue to hedge against further downside. Therefore, should these liquidations persist, they may add to selling pressure, particularly if stop-loss orders are triggered on long positions.