On July 24, a whale transferred 191,453,164 USD Coin (USDC) into the Aave protocol.
Whale Alert praised the event at $191.42 million. This change confirmed the main function of the protocol, although its effect on the demand for AAVE was not known.
Meanwhile, Aave (AAVE) traded at $96.28, below the resistance range of $99–$100. The area has resisted several attempts to save it, making the whale’s time more famous.
CryptoQuant’s Spot Average Order Size also recorded Big Whale Orders near the current AAVE price. However, no data confirmed that these whales acquired AAVE before the event.
Are the whales in the $100 spot?
USDC remittances were part of a larger increase in large transactions.
Santiment recorded a rise in the Whale Transaction Count for a change of over $100,000 before it was briefly counted recently. This project gave attention to the main owners. However, these metrics included purchases, sales, and wallet transfers.
Therefore, an increase in the Whale Transaction Count can increase volatility without knowing where it is coming from.
Spot’s demand gave a clear signal.
CryptoQuant’s 90-day Spot Taker CVD showed Taker Buy Dominant activity during the recent AAVE recovery. This shows that aggressive buyers bypassed the spread to complete the purchase.
Coinanalyze data supported that position. Longs represent 56.09% of intraday positions, compared to 43.79% of shorts.
The One day the Long/Short Ration stopped to 1.28. However, a longer stay may increase the risk of exclusion from rejection.
Can AAVE exceed $100?
AAVE regrouped below $100 after recovering from its June lows.
The daily chart forms an ascending triangle, with buyers protecting the rising trend without horizontal resistance.
AAVE also traded above its 20-day, 50-day, and 100-day Exponential Moving Averages. Those averages stood at $92.27, $91.76, and $88.46, respectively.
Meanwhile, Stochastic RSI recorded 52.68 and 49.31. This neutral reading left room for movement in either direction.
A daily guaranteed close of more than $100 can encourage a breakout situation. A rejection would bring attention to the movement below $92.
Brief Summary
- The whale’s activity soared when AAVE joined under the psychological pressure of $100.
- Shopping-driven mobility reinforces the problem of AAVE without guaranteeing mobility.
