$AAVE Data CryptoQuant, as shown in the chart below, highlights selling pressure on Aave. Taker CVD (Cumulative Volume Delta) for AAVE is negative, and its value has been steadily decreasing since mid-July. This indicator measures the cumulative difference between market buy and sell volume over three months. When the 90-day CVD is positive and increasing, it indicates a Buyer Taker Dominance Phase, while negative and decreasing values indicate a Seller Taker Dominance Phase.
Aave's price broke below the upward trend line (drawn by connecting several lows since early April) on Thursday and fell 5% in the following two days. However, the price found support around the 200-day Exponential Moving Average (EMA) at $242.27 on Sunday and recovered 8.68% on Monday, retesting the previously breached upward trend line. At the time this news was written on Tuesday, the price was trading slightly down around $262.13.
š„Relative Strength Index (RSI) reads 40, below the neutral level of 50, indicating bearish momentum. Additionally, the Moving Average Convergence Divergence (MACD) also shows a bearish crossover that persists, indicating bearish momentum and a downward trend.
