Aave Slides Toward $237 as $330 Resistance Fails to Hold

Aave (AAVE) is exhibiting signs of bearish pressure following a failed attempt to break through the $330 resistance zone, with technical indicators projecting a possible decline toward $237 if downward momentum persists. The price is currently trading near $310.80, with analysts noting the $330–$337 corridor as a significant area of rejection after a brief rally to $337.71 [1]. The inability to sustain gains above this level has led to renewed bearish sentiment, with traders closely monitoring whether the token can stabilize above key support levels or continue its descent [1].

The recent price action suggests a potential M-shaped pattern forming on the chart, which could indicate a retest of lower levels. According to on-chain analysis, the next key support levels in view are at $294 and $270, both of which have previously served as consolidation zones during prior price movements [1]. A breakdown below these levels could trigger further selling pressure, with the $248 level expected to act as a critical buffer before the projected $237 support comes into play [1].

Historical data shows that Aave previously found a floor at $248 in early August before rebounding, and this level remains a key structural reference for traders. If price action retreats beyond $270, the token may face renewed challenges at this level, potentially leading to a deeper correction toward $237. The $237 level is considered a historically significant support zone where accumulation has occurred in the past, and its test could provide clarity on whether the market is entering a broader consolidation phase or facing a more extended bearish trend [1].

Analysts are divided on the immediate outlook, but bearish momentum remains a dominant theme. The key resistance at $330 has proven resilient, and its continued hold suggests that downward price projections remain relevant. Traders are now evaluating whether a stable base can be established above $294 or if the bearish bias extends all the way to $237, which would mark a significant retracement from recent highs [1].

Source: [1] Aave Faces $330 Rejection as Chart Projects Drop Toward $237 Support (https://cryptonewsland.com/aave-330-rejection-as-chart-projects-drop-237/)