Market Overview for Aave/Tether (AAVEUSDT)

Summary
• Aave/Tether (AAVEUSDT) formed bullish engulfing patterns early and tested 176.60 as key resistance.
• Price closed near 174.74, consolidating after a sharp 1.3% decline from intraday highs.
• RSI showed oversold conditions late in the session, suggesting possible near-term buying interest.
• Turnover spiked during the 02:30–03:00 ET window, coinciding with a sharp reversal from 177.51 to 174.41.
• Bollinger Bands showed volatility expansion during the morning, reflecting mixed buyer and seller activity.

Aave/Tether (AAVEUSDT) opened at $170.74 on 2026-01-16, reached a high of $177.51, and closed at $174.74 on 2026-01-17 at 12:00 ET. Total 24-hour volume was 23,264.89 AAVE, with a notional turnover of $4.12 million.

The price moved through several key resistance and support levels, with 176.60 and 173.90 showing strong rejections and rebounds. A 20-period moving average (5-min chart) remained below price most of the session, confirming a bullish bias in the short term. However, a bearish crossover occurred during the 2-hour decline on 2026-01-17 02:30 ET, suggesting temporary bear momentum.

MACD showed a bearish crossover earlier in the session, followed by a narrowing histogram during the consolidation phase. RSI bottomed near oversold territory in the late hours, which may signal short-term support for buyers. Bollinger Bands saw a marked expansion during the morning, consistent with rising volatility and indecision. Volume spiked sharply during the reversal from 177.51 to 174.41, suggesting aggressive liquidation or profit-taking.

Fibonacci retracements highlighted key levels around 175.10 and 173.88 as potential areas for near-term support. A test of 173.88 may follow if sentiment remains bearish.

AAVEUSDT could see renewed buying interest as RSI suggests a potential bounce from oversold levels. However, the large bearish move from 177.51 to 174.41 indicates elevated short-term risks. Investors should monitor the 175.00 psychological level for further directional clues in the next 24 hours.