AAVE Price Dey Face More Downside Amid Horizon RWA Growth
AAVE price don drop over 21% from last week high, e come reach $300, e lowest since Aug 22, e dey follow Bitcoin and most altcoins. Meanwhile, Aave DeFi platform total value locked rise 22% for 30 days come reach $40 billion, plus seven-day fees climb to $21.2 million, na because of their new Horizon real-world asset (RWA) tokenization product. Horizon get $50 million available funds now, $6.2 million borrow; Ripple USD lead with $26.3 million supply, USDC follow with $8 million. Technical analysis show say AAVE price dey supported for 50-day moving average inside ascending channel. If e break below $280 channel floor, prices fit push go $245, but if e hold support, e fit cause bounce.
Bearish
News dey show say AAVE price get bearish outlook. Even though Horizon RWA growth get better fundamentals, the token don fall over 21% for one week and land for key support for 50-day MA. Past similar cases, like token launches wey get strong TVL growth but still cause sell-the-news reactions (like Compound SUP token launch), show say technical factors fit pass fundamental catalysts. If e break below $280 channel floor, e fit make short-term selling quicken go $245. If support hold, mid-term stabilization and bounce fit happen, but steady upward trend need strong break above the upper channel. Traders make dem prepare for more downside risk short-term, and dey watch Horizon adoption metrics for long-term bullish signals.