- AAVE is currently trading at $193.29 while 39.34% of the addresses are in profit.
- The level of $146.53 is crucial for support retention and for a return.
- AAVE faced resistance at about $178.43 in its quest for higher momentum.
AAVE is navigating a considerable distance between major levels of support and resistance as evidenced by its price and address distribution chart. That is, currently, the price of this decentralized finance (DeFi) token is around $193.29, lying between significant price points of $118.86 and $178.43, with the average price set at $146.53.
The chart indicates that 39.34% of AAVE addresses are currently “in the money” holding AAVE at a value of 1.22 billion dollars, that is, 6.29 million AAVE, which are above the current market value. Meanwhile, 4.48% of addresses are holding 716,670 AAVE at a price range of $138.67 million, which are “out of the money” indicating a bit of pain among holders who bought AAVE at higher prices.
Price Distribution and Future Path of AAVE
The price distribution shows clear support and resistance bands on the price chart, which is very essential in understanding how AAVE will perform. Currently, the price at $193.29 sits close to the $178.43 resistance area, which is looking quite possible for future extension. The $118.86 to $178.43 price band has 39.34% of the trade volume, in itself supported with a huge trading volume of about 3.84 million of AAVE traded in this price range, some serious price floors would be maintained from now on. In another price range, the next important range is from $184.23 to $252.78. Here, resistance continues to build up as it takes up a total percentage of volume at 56.18% amounting to $716.67K
There has been a marked share of activity at the most massive addresses over some of these key levels. Currently, 18.7% of Addresses are in the range of current prices holding AAVE, representing a broad base of collective acceptance of price as of now. Yet, the relatively minor portion of out-of-the-money addresses against those in profit should lead to further optimistic momentum in AAVE should it hold above the $146.53 mark. This will be complemented by a total volume of 3.84 million AAVE as the market speaks strong about stability.
AAVE Resilient with Creasance for Possible Rebound
In spite of the recent volatility in the market, this resilience of AAVE would give it a rebound, tentatively if at all it manages to hold above price levels of $146, according to the close interests of investors and traders regarding this support as a decisive level. In case AAVE keeps its feet passing above this $178.43, further grounds would occur for a more sustained rally. And with market-wide traction apparently set above $146, this could also move momentum positively for AAVE. If it fails to hold above the price levels, however, consolidation or retracement would occur as a reflection of the market adjustments to price fluctuations. All will depend on how these support hold in the weeks to come.
