AAVE turn $100 go resistance as $83.92 breakdown dey deepen, next na $77.97
AAVE dey trade around $91 after e sharp selloff earlier dis week, wen e drop near $83.92. Wetin traders take be say AAVE $100 psychological level don flip from previous support to confirmed resistance for 4H chart, wey dey keep the setup bearish.
Momentum still weak. 4H Supertrend (10,3) red near $87.36, and MACD histogram dey deep negative (about -0.85), no clear reversal signal. Short-term resistance dey $94.12, then $100.
Levels to watch: bulls need daily close above $100 to invalidate the bearish structure. For downside, 4H close below $87.36 fit open road toward $77.97. If $77.97 break, article flag say deeper tail support dey near $51.38.
Positioning context still cautious. Coinglass data wey article mention show say AAVE open interest remain elevated after Apr 6 liquidation event, consistent with forced selling and only partial recovery since.
Protocol news add overhang: BGD Labs comot from im engagement on Apr 1 amid governance tensions. Overall, traders suppose expect say AAVE go remain range-capped unless $100 dey reclaimed on daily basis; if dem fail, e go increase chance say price fit follow-through to $77.97.
Bearish
Both articles dey converge for the same trader‑critical message: AAVE recent breakdown (towards $83.92) don shift the $100 zone from support to resistance. The latest update add clearer 4H momentum read (Supertrend red near $87.36 and one deep negative MACD histogram), confirm say sellers still dey control near‑term direction.
For short term, price likely go remain capped between $94.12 and $100 unless AAVE fit reclaim $100 on a daily close. The derivatives/liquidation context (high open interest after the Apr 6 liquidation) show say forced selling effects fit linger, wey normally reduce chance of quick, sustained rebound.
For the long run, the article’s governance‑development overhang (BGD Labs exit) dey keep uncertainty high, wey fit weaken dip‑buying confidence. That combination explain the bearish bias: failure to regain $100 dey increase odds of follow‑through lower to $77.97, with $51.38 highlighted as a deeper tail‑risk level.