🚨 Aave dropped by 10% amid strong market sell-off!
📉 The price of Aave fell to $250 after breaking the important support level at $265–$270, with a possibility of dropping to $225 if the selling pressure continues.
💸 Network data showed an outflow of $11.26 million in cryptocurrencies from exchanges, with daily trading volume rising by 159%, indicating a rush to sell by traders.
⚠️ The Relative Strength Index (RSI) is at 20.9, which means the currency is in oversold territory, but no immediate reversal has been shown yet.
🌐 Despite the launch of the v4 upgrade that brought a multi-chain Hub-and-Spoke design, Aave has been unable to maintain upward momentum.
🔗 For those interested in technical analysis, immediate support is between $245–$250, and if broken, the next important level is at $229.
📊 The market as a whole is experiencing pressure on cryptocurrencies following the decline of Bitcoin and Ethereum, with most altcoins like Solana, XRP, and Dogecoin also decreasing.
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