In the great, sprawling bazaar of cryptocurrencies, where fortunes are as fickle as the wind, Aave (AAVE) has seen its price tumble like a clumsy toddler down a staircase. A decline of nearly 10% has left it gasping for breath at a local bottom of $153, while the altcoin now frolics between $155 and $160, perhaps dreaming of a breakout like a puppy chasing its tail.
AAVE’s Falling Wedge: Is It a Trap or Just a Bad Hair Day?
On a fine day, January 23 to be precise, the wise sage of the market, Ali Martinez, took to the digital ether with an analysis of AAVEUSD’s 4-hour chart. He posited that AAVE is at a crossroads, much like a traveler who forgot his map. The $144 support zone stands like a last bastion of hope in a sea of despair, marking the base of a descending structure that has defined AAVE’s fate since last year. With a falling wedge pattern forming-characterized by lower highs like a disgruntled student’s report card-this shape suggests consolidation after relentless selling has worn out the sellers, leaving the buyers to defend their precious floor.
For those unfamiliar with this drama, AAVE was once strutting around proudly above the $350 mark but has since retreated down to the mid-$150s, stepping down through levels like a sad musician playing a slow tune. With each horizontal level-$240, $200, and $162-vanishing from sight, the sellers have taken control, making the current support range more crucial than ever. AAVE is now precariously perched, teetering just above $144.93, a level that’s seen more action than a Hollywood blockbuster during this tumultuous downtrend.
Martinez warns that a slip below $145 could trigger a wild descent, akin to a rollercoaster plummeting towards the ground with no seatbelt in sight, landing at the next major support around $125. Conversely, if AAVE manages to hunker down and hold onto that $145 support, the stage might be set for a rebound that could see it reclaiming the heights of $162, or even daring to dream of $200. While this wouldn’t erase the larger bearish cloud hanging overhead, it would certainly suggest that the tides are turning and the selling pressure might be easing.
AAVE Price Overview
As of this moment, Aave trades at $156.99, reflecting a modest decline of 0.76% in the past 24 hours, much like your favorite sitcom that just doesn’t hit the same anymore. Daily trading volume, however, is up by 6.07%, sitting comfortably at $362.59 million. As the price compresses toward the apex of this falling wedge, traders should brace themselves for a rollercoaster ride of volatility in the upcoming sessions. For now, the critical juncture at $144.93 will determine whether we’re headed for a party or a pity party.
Read More
- VCT Pacific 2026 talks finals venues, roadshows, and local talent
- Lily Allen and David Harbour ‘sell their New York townhouse for $7million – a $1million loss’ amid divorce battle
- EUR ILS PREDICTION
- Will Victoria Beckham get the last laugh after all? Posh Spice’s solo track shoots up the charts as social media campaign to get her to number one in ‘plot twist of the year’ gains momentum amid Brooklyn fallout
- Vanessa Williams hid her sexual abuse ordeal for decades because she knew her dad ‘could not have handled it’ and only revealed she’d been molested at 10 years old after he’d died
- Dec Donnelly admits he only lasted a week of dry January as his ‘feral’ children drove him to a glass of wine – as Ant McPartlin shares how his New Year’s resolution is inspired by young son Wilder
- Invincible Season 4’s 1st Look Reveals Villains With Thragg & 2 More
- SEGA Football Club Champions 2026 is now live, bringing management action to Android and iOS
- The five movies competing for an Oscar that has never been won before
- Streaming Services With Free Trials In Early 2026
2026-01-24 19:26