AAVE plummet 11%: Can the 202 USD mark withstand the selling pressure of 35.5 million USD from whales?

Aave (AAVE) has faced strong selling pressure since reaching a peak of 264 USD four days ago, with the plummet pulling the price down to a low of 210 USD.

As of the time of writing, AAVE is trading around 214 USD, recording a decrease of 11.57% in the last 24 hours and plummeting by 21.91% over the week.

The continuous decline has caused important support levels to be breached one after another, making investor sentiment more pessimistic than ever. The wave of sell-offs is spreading, particularly from large investors — the “whales” who are rushing to offload their holdings to preserve profits.

AAVE whale sells 35.5 million USD tokens

Notably, after a short-term recovery effort of the market following the previous plummet, AAVE witnessed a strong return of the “whales” with a marked increase in trading activity.

According to data from CryptoQuant, the Spot Average Order Size ( has continuously recorded large transactions over the past seven consecutive days — indicating an increasing level of participation from institutional investors in the spot market.

![])https://img-cdn.gateio.im/webp-social/moments-29e9d8ae6d692e4757449c3bb70d2dea.webp(Source: CryptoQuant Information from Lookonchain indicates that a whale has sold 88,227 AAVE tokens, equivalent to 19.89 million USD. At the same time, another veteran whale, recorded by EmberCN, has also withdrawn 70,000 AAVE from the wallet and sold it, bringing in about 15.62 million USD.

![])https://img-cdn.gateio.im/social/moments-1f21d76e88125f70977cde2acbc84a08(Source: LookonchainIn total, these two whales have sold 158,227 AAVE, with a total value of up to 35.51 million USD. The strong selling activity in such a downtrend reflects a lack of confidence in the recovery momentum and is often seen as a clear signal of a downtrend.

In the past, sell-offs from whales like this often herald deeper corrections, causing prices to continue to plummet.

Retail investors follow suit to sell off

It is not surprising that after the strong moves from the whales, retail investors also began to flee from their positions.

Data from Coinalyze shows that AAVE has maintained a negative spot delta for six consecutive days, clearly reflecting the overwhelming selling trend.

Specifically, on October 17, the sell volume reached 48,000 AAVE, while the buy volume was only at 46,000 AAVE, creating a negative delta of -1.34 thousand — a sign that selling pressure is clearly dominating the spot market.

![])https://img-cdn.gateio.im/social/moments-762c6fb121f5ec173cf7e2958fc06c93(Source: CoinalyzeThe developments on the exchanges also reinforce this negative picture. According to data from CryptoQuant, the net inflow )Exchange Netflow( of AAVE has remained positive for three consecutive days, with a total inflow to the exchange of about 30,000 AAVE.

![])https://img-cdn.gateio.im/webp-social/moments-d4d0c1025e6a094defb6bf3701fa4365.webp(Source: CryptoQuantHistory shows that when capital inflows into exchanges increase significantly, prices often continue to face downward pressure due to the growing supply ready to sell.

The risk of a deep decline still exists

According to Coin Photon, the decline of AAVE is currently being strongly impacted by selling pressure coming from both whales and retail investors.

The price of AAVE has plummeted below both the short-term and long-term moving averages — a signal indicating that the bearish trend is prevailing and the market structure is clearly weakening. The confidence of both short-term and long-term traders is wavering, reflecting a strong ongoing correction phase.

![])https://img-cdn.gateio.im/webp-social/moments-cafd2268c6598720b270160536969b9b.webp(Source: TradingViewWith the current context, the downtrend is likely to continue. If the selling pressure does not decrease, AAVE may retreat to the bottom of the future trend channel )Future Trend Channel( around the 209 USD mark, while the 202 USD level serves as a key support threshold.

To turn the tide, the bulls need to regain control and push the price above the 244 USD level — corresponding to the Future Price line in the future trend channel. Only then will AAVE have a chance to recover towards the 20-day exponential moving average )EMA( at 258 USD.

SN_Nour