What's up, my people! Get ready because I've got the hot gossip from the crypto world! 🔥 It turns out that a big whale of AAVE, one of those that moves the needle, has awakened from its slumber! 😴 Imagine this: the guy had over 2 million green bills in AAVE tokens sitting quietly on Binance for seven months and suddenly, bam!, he moved them to a personal wallet. 💰 This has everyone raising their eyebrows, wondering if the price of AAVE will keep rising like foam or if this is just for show.
The price of AAVE has already risen 8% in the last month, so the million-dollar question is: Does this whale know something we don't and is smelling a huge rise, or are they leading us into a deadly trap? 😱
The move went like this: this shark transferred 8,033 AAVE tokens, which is about $2.09 million, from Binance to a wallet that hadn't seen a cent move in seven months. When these whales pull their cash from exchanges, people usually think they're not going to sell right away, which is a cool sign. But since this wallet has been inactive longer than a statue, no one knows if the whale plans to hold the cash long-term or if they're moving it to sell elsewhere. So let's stay alert, folks! 👀
Sleeping coins that suddenly wake up! What's going on here? 😳
And as if that weren't enough, there's another fact that'll blow your mind: about 11,300 AAVE tokens that had been dormant for two years also woke up! 🤯 Usually, when these ancient coins move, it means that those who invested a long time ago, the so-called "hodlers," could be ready to cash in their profits! If those early investors decide to sell, this could put pressure on the price of AAVE and send it down. Oh, my mother! 📉
Few deposits on exchanges: Good sign or red alert? 🚨
Normally, when there are few coin deposits on exchanges, it's a good sign because it means people don't plan to sell immediately. But in this case, the whale just withdrew tokens, there aren't many new users entering Aave, and to top it off, old coins are waking up. It's like people are waiting cautiously, lacking the confidence to buy more. This could make the current rally more unstable than a flan in an earthquake! 🍮
Traders are hopeful, but not overly confident! 🤔
If we look at the funding rates (which is like a thermometer to see if traders are betting on the price going up or down), things are a bit lukewarm. There's some optimism, yes, but not enough to go all out. If they really had faith, those rates would be through the roof. Right now, they're neutral, which means no one is 100% sure where things are heading. So let's wait for a clear signal! 🚥
Is AAVE's "cup and handle" going to break out or fall? 📈📉
On the chart, the price of AAVE is around $261, forming a pattern that looks like a "cup and handle," which is usually a signal that the price is about to shoot up. If AAVE manages to surpass $283, we would be talking about an 8% increase! And the next target could be $324, which would be a 24% profit! So you better brace yourself! 🤯
But watch out: for this rise to be real, we need the trading volume to shoot up like crazy! And right now, the volume is lower than a frog's belly button! 🐸 If the volume stays this weak, the rally could deflate faster than a popped balloon. 🎈
On the other hand, if the price fails to surpass $283, it could drop to $250 (a 4% decrease) or even down to $239 (an 8% drop!). The RSI, which is like the market's thermometer, is at 50, meaning there's no clear trend up or down. So everyone is on watch!
During the next week, we need to be sharper than a monkey with a banana: we have to see if the whales keep pulling their tokens from the exchanges or if they suddenly start sending them back to sell. And most importantly: watch the volume! If the volume rises when the price approaches $283, it's a good sign! But if the price rises without volume, beware! It could be a trap for the unsuspecting. Don't be fooled, my people! 😉$AAVE
