Whales Dump AAVE — Where Is the Altcoin Rally?
The post Whales Dump AAVE — Where Is the Altcoin Rally? appeared on BitcoinEthereumNews.com.
Key Notes Two whales recently dumped over $5.5 million worth of AAVE, fueling the downturn. AAVE’s market cap dropped by nearly $900 million over the past week. Analyst forecasts a +168% breakout if its long-term wedge pattern plays out. AAVE $231.0 24h volatility: 1.1% Market cap: $3.50 B Vol. 24h: $581.68 M has seen a sharp 20% price drop over the past week, currently trading near $232.6. The downturn has wiped nearly $900 million off its market cap, which now stands at around $3.52 billion. The sudden sell-off has been fueled in part by large holders exiting their positions. According to data shared by LookonChain, two whales offloaded over $5.5 million worth of AAVE in recent hours. As the market dropped, 2 whales dumped 24,936 $AAVE($5.51M). 0x1f4A deposited 15,646 $AAVE($3.45M) to #Binance 7 hours ago. 0x8d8B sold 9,290 $AAVE for 2.056M $USDC 14 hours ago.https://t.co/QxzcnexbSohttps://t.co/9zX56h9Rip pic.twitter.com/d8obx1m7a1 — Lookonchain (@lookonchain) June 23, 2025 Earlier today, whale address 0x1f4A deposited 15,646 AAVE (worth around $3.45 million) to Binance, while 0x8d8B sold 9,290 AAVE for 2.05 million USDC on Sunday night. These movements have shaken short-term investor confidence. AAVE Price Outlook On the daily AAVE price chart, the RSI is indicating that the 30th largest cryptocurrency is nearing the oversold territory. This could suggest a potential bounce if buying volume returns. AAVE price chart with RSI and Bollinger Bands | Source: Trading View The Bollinger Bands indicate that AAVE has touched the lower band and is currently trading below the midline (20-day Simple Moving Average), typically a bearish signal. However, this also suggests AAVE may be oversold. If sentiment improves, a mean reversion move toward the midband (around $265) could occur in the short-term. After this level, the next immediate resistance lies at $310. However, the MACD shows continued bearish momentum, with the…
