Market Overview for Aave/Tether (AAVEUSDT)

Summary
• Price declined from $151.74 to $149.04 with key support around $148.50–$149.00.
• High volume seen in the final 5 hours, but turnover failed to confirm strength.
• RSI and MACD signaled bearish momentum, with prices in lower Bollinger Band.

Aave/Tether (AAVEUSDT) opened at $151.25 on 2025-12-23 12:00 ET, reached a high of $152.51, and closed at $149.04 on 2025-12-24 12:00 ET with a low of $146.40. Total volume was 66,394.94 and turnover approximately $9.96M over 24 hours.

Structure & Formations

Price action displayed a descending channel on the 5-minute chart, with bearish engulfing patterns visible during the late evening hours (ET). A key support level appears to be forming around $148.50–$149.00, with a failed test at $146.40 suggesting short-term support. A bearish hammer candle emerged around $148.82–148.84, indicating potential exhaustion in selling pressure.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 5-minute chart remained in a bearish crossover, reinforcing downward bias. The daily chart shows the 50-period MA at ~$150.40 and the 200-period MA at ~$152.50, indicating a medium-term bearish trend. The RSI fell below 30 early in the session and remained in oversold territory, signaling potential for a near-term bounce. The MACD turned negative mid-morning and remained bearish, with no clear signs of reversal.

Volatility and Bollinger Bands

Volatility expanded significantly during the early morning and afternoon hours, as price traded within a wide Bollinger Band range. The low at $146.40 saw price dipping near the lower band, while the high of $152.51 reached near the upper band. A narrowing band occurred briefly around 01:30–02:30 ET, suggesting potential for a breakout or breakdown.

Volume and Turnover

Volume spiked above average levels between 08:30–09:00 and 14:45–16:00 ET, particularly during a sharp decline from $147.46 to $146.65. However, notional turnover did not rise in tandem with the price drop, indicating some divergence and weak conviction in the move. The final 5-hour window saw a 25% increase in volume compared to earlier periods, but price failed to respond with a clear reversal.

Fibonacci Retracements

Fib levels drawn from the $152.51 high and $146.40 low show a 61.8% retracement near $149.35–149.50, a key psychological level that was tested twice without a strong rebound. The 38.2% level at $148.75 also acted as a minor support. Daily retracements from the last major move show the 61.8% level at $149.80–150.00, where a potential countertrend bounce might be expected.

Aave/Tether appears to be in a short-term bearish trend with key support levels forming near $148.50–$149.00. A rebound above $149.35 could re-energize buyers, but a break below $148.20 may signal further weakness. Investors should remain cautious, as volume and momentum indicators suggest a mixed technical picture for the next 24 hours.