AAVE price drops as DeFi selling hurts bid above $100

AAVE price suffered one of its sharpest single-session falls on April 6, briefly breaking below $84 and rebounding to $94.66, after DeFi selling and broader risk-off sentiment pressured Aave’s lending token. The key takeaway for traders is that the $100 level flipped from support to resistance on the daily chart. Technicals remain bearish. The daily Supertrend sits at $107.82, and the daily MACD is deeply negative, signaling selling momentum has not reversed. On the 4H chart, Supertrend support is near $92.29; a breakdown there would likely reopen the route back toward the $83.92 intraday low. The $80 round number is the next major support area, reinforced by the 0.786 Fibonacci retracement (roughly $80–$85). Upside requires confirmation: traders need a daily close above the Supertrend level at $107.82, which would be the first sign of a structural shift and could open a move toward ~$112. Fundamental/positioning notes add caution but not an immediate floor: BGD Labs ended its engagement on April 1, citing governance tensions ahead of Aave v4. Grayscale has filed to convert its Aave Trust into an ETF (NYSE Arca), which may support longer-term demand, while CoinGlass data shows AAVE futures open interest declining alongside price—consistent with long deleveraging rather than aggressive new shorts. For AAVE price action, the market focus is whether $92.29 holds (near-term) and whether AAVE can reclaim $100 and then $107.82 (trend change).