AAVE nears $100 as whale accumulation builds before breakout

Whale wallets added 2.8% more AAVE over five weeks as the token's price rebounded 22.8% in 30 days, setting up a test of the $100 resistance zone.

AAVE rose 22.8% over the past 30 days to trade near $94.35, approaching the $100 resistance level as whale accumulation accelerated on Ethereum.

"AAVE is looking primed for a strong breakout upwards, with constant higher lows and demand propping up price before a breakout above resistance," Michaël van de Poppe, a crypto analyst, said. His next target is $125.

Wallets holding between 100,000 and 100 million AAVE added 2.8% to their balances over the past five weeks, according to Santiment data. The accumulation coincided with the token recovering from $88 support in late June. Trading volume fell 25% to about $169.5 million, signaling that retail buyers have yet to return. The 14-day RSI stands at 56.26, a neutral reading that leaves room for momentum to build.

A decisive close above $105 would confirm a bull flag pattern that projects a move toward $141, according to analyst Crypto Patel. Failure to clear that level could send AAVE back toward the $90 demand zone. The token's 200-day moving average sits near $105, making it the key technical barrier.

Whale Accumulation Diverges From Retail Selling

The accumulation trend among large holders contrasts with behavior at the smaller end of the market. Micro wallets holding less than 0.01 AAVE reduced positions by 5.2% over the same five-week period, Santiment data shows. This divergence has historically preceded further upside for AAVE, according to the on-chain analytics firm.

AAVE on Ethereum continues to hold above its 10-day, 20-day, 50-day and 100-day exponential moving averages, maintaining a bullish short-to-medium-term structure. The only major trend barrier overhead is the 200-day MA near $105.

Key Levels to Watch

Immediate resistance sits at $97.92, followed by the psychological $100 mark and the longer-term barrier at $105. On the downside, support is concentrated around $94.60, with the next liquidity zone near $93.80. A daily close below $92.44 would weaken the current bullish structure and increase the probability of a retest of the $90 demand zone.

The broader crypto market's Fear & Greed Index remains at 35, reflecting cautious conditions that have limited momentum across digital assets. For AAVE, the path higher depends on sustained spot buying volume returning to confirm the accumulation signal from whale wallets.

This article is for informational purposes only and does not constitute investment advice.