Short selling targets for Aave despite extended losses.

AAVE had a good start to the year, but it encountered resistance at the $92 level and suffered a 34% correction over two months. Recently, the crypto market was further affected by the SEC’s lawsuit against Binance, which also impacted the performance of AAVE.

In the last 24 hours, AAVE has lost 3% of its value, and on the weekly chart, the coin has experienced a significant drop of almost 12%. Technical indicators suggest that there is considerable bearish pressure, with both demand and accumulation decreasing.

Most altcoins have exhibited similar price actions as Bitcoin also experienced a drop to the $25,000 zone. AAVE has struggled to maintain its price above a crucial support level, and as selling pressure has intensified, it has fallen below that level. The market capitalization of AAVE has also decreased, indicating that sellers currently have control over the price.

Aave Price Analysis: One-Day Chart

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