AAVE Breaks Structure After Sharp Whale-Led Sell-Off — Snapshot Vote Escalation Sparks Backlash, Tests Ascending Trendline as Volume Surges

first published 2025-12-22T04:00:05Z

Wallet 0xa923 sold ~230,350 AAVE (~$37.6–37.8M), converting proceeds to stETH and WBTC and triggering a rapid sell-off that pushed AAVE to about $161.70. The seller realized an ~ $13.8M loss, suggesting urgency. Other on-chain activity is mixed: some large addresses accumulated AAVE this month (one added ~310,000 AAVE, another deployed ~$35M, Multicoin bought ~$20M OTC), top-100 holdings rose and exchange reserves fell. Technicals show a downtrend with pressure at $160–165, RSI in the low 40s, price on the lower Bollinger Band; a decisive daily close below $160–165 could open a slide toward $145–150, while upside toward $175–200 looks unlikely without higher volume.

AI Analysis

A single large wallet sold ~230,350 AAVE (~$37.6–37.8M) into stETH/WBTC and realized ~ $13.8M loss, causing a ~10% drop to ~$161.70; on-chain data show mixed accumulation by other whales and falling exchange reserves, but technical indicators (downtrend, RSI low 40s, price on lower Bollinger Band, key support $160–165) point to immediate bearish pressure and a plausible move toward $145–150 absent volume recovery.

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