- AAVE price is poised for a potential rebound from the support trendline of a falling wedge pattern.
- AAVE’s open interest (OI) increased from $211 million to $321 million over two weeks, indicating a leverage build up in its futures market amid the anticipation of potential price move.
- A fresh higher low formation in relative strength index (46%) indicator suggests rising recovery momentum in AAVE.
AAVE, the native cryptocurrency of decentralized leading protocol Aave, is down 1.25% during Thursday’s U.S. market hours to trade at $92.78. While the downtick gained its initial momentum with the broader market slowed, the spillage from Kelp DAO rsETH exploit continued to pressurize AAVE price. The deeper analysis of the technical chart shows an emerging bullish reversal pattern that could push the coin price for a fresh recovery trend.
AAVE Open Interest Surges 52% Despite DeFi Crisis and Liquidity Drain
Since last week, the majority of major cryptocurrencies...
English (US)