Aave's Support Crumbles: Bears Take the Wheel as $92 Enters the Chat

Aave [AAVE] has officially left the $100 support building, crashing to a three-week low of $96 amid a broader market dip. At press time, AAVE hovered at $97, down 7.7% on the daily charts, with its market cap shedding over $200 million in the process. Ouch.

The altcoin now trades below its short-term Moving Averages—the 9- and 21-day MAs— сигнализируя о серьезном давлении со стороны продавцов. For the non-Russian speakers, that's "signaling serious seller pressure" in a language that hits different when your portfolio is down 8%. Technical analysis doesn't care about your feelings.

As the market pulled back, AAVE participants turned aggressively bearish, exiting positions at a rapid pace. Nothing says "I believe in this protocol's long-term vision" like panic selling at the first sign of red. Diamond hands? More like paper hands made of wet toilet paper.

The Bulls vs. Bears indicator flipped negative after holding positive for over a month. When this metric goes red, it means sellers have kicked buyers to the curb and taken control. The bears aren't just in the chat anymore—they've stolen the steering wheel and are blasting death metal.

Exchange data tells the same sad story for bulls. According to CryptoQuant, 79k AAVE tokens flowed into exchanges while only 74k flowed out. The Netflow has remained in positive territory for six straight days—a clear sign sellers are dominating the narrative. People are basically throwing their AAVE at exchanges like "please god, anyone take this." FOMO has left the building.

The Exchange Supply Ratio jumped to a monthly high of 0.137, meaning more tokens are sitting on exchanges ready to be sold. Historically, this setup precedes further downside. When your grandma starts asking about Aave's exchange supply ratio, you know it's getting serious.

The Relative Strength Index (RSI) dropped to 34, drifting deeper into bearish territory and approaching oversold levels. This signals sellers are running the show while buyers stay on the sidelines. Buyers are currently in the fetal position, softly crying, waiting for someone to tell them it's okay to buy again.

If sellers keep overwhelming the market with little pushback, AAVE could slide toward $92 before any meaningful recovery attempt. $92 enters the chat, and honestly? It's not even wearing a disguise.

However, if the market stabilizes