On Tuesday, April 1st, the crypto market witnessed a bullish jolt, following Bitcoin’s attempt to reclaim the $85,000 level with a +3% surge. While the uptick sparked intraday optimism, it remains early to confirm a broader market trend reversal. Amid the uncertain backdrop, the AAVE price appears increasingly vulnerable as onchain data shows whales are offloading their holdings — raising the risk of a prolonged correction.
Key Highlights:
- Whale wallet 0xd282 moved 30,001 AAVE ($4.98M) to FalconX, while another wallet, 0x1AdC deposited 11,018 AAVE tokens OKH, signaling that the large-scale investors reducing their exposure to this asset
- The AAVE price stands 2% short of challenging the resistance trendline of a falling wedge pattern.
- A potential bearish crossover between the 100-and-200-day Exponential Moving Average will accelerate the market selling pressure.
AAVE Faces Critical Resistance as Whales Offload $7M+ in Tokens
By press time, the AAVE price traded at $167, with an intraday gain of 4.76%. This upswing supports buyers to challenge the resistance trendline of a falling wedge pattern. Since late January 2025, the overhead resistance acted as a major selling zone for traders as past reversal led to a drop of 25% to 44%.
As the AAVE price heads towards another retest, the risk of bearish reversal persists as the whale transaction records a notable sell-off.
According to data from Lookonchain, wallet address 0xd282 transferred 30,001 AAVE tokens (worth $4.98 million) to the crypto trading platform FalconX within just two hours of reporting. Despite the substantial volume, this whale now holds 37,425 AAVE (valued at $6.33 million) with a total profit of $11.8 million.
In contrast, another wallet, 0x1AdC, deposited 11,018 AAVE tokens ($1.86 million) to the OKX exchange, but this move resulted in a loss of $293,000, highlighting an exit strategy with accepting loss.
AAVE Price Nearing Major Resistance Test
Over the past three months, the AAVE coin has resonated actively within the two converging trendlines of a falling wedge pattern, indicating its reliability in influencing price movement. With the price standing just 2% short of challenging the overhead trendline, it faces a crucial pivot level to determine further movement.
If the overhead selling persists, the AAVE price could revert lower and dive 25% down to hit the bottom support trendline. Similar selling patterns have raised concerns in the past. Explore how ongoing whale exits might disrupt AAVE’s rally toward the $400 mark.
On the contrary, the chart setup is designed to eventually breach the upper boundary as a signal for trend reversal. Thus, a potential breakout will accelerate the market buying pressure and set chase $280 resistance, followed by $400.
Also Read: BNB Price Eyes +20% Surge as Binance Dominates Spot Market
