Ghost the decentralized lender’s management token, posted a sharp decline through Thursday, falling 8% to $208. Since Monday’s $248 high, the token has fallen more than 16%.
The defi bluechip token carved out consecutive lower highs and lower lows, establishing clear bearish momentum as peers advanced, Coindesk Research’s market outlook tool showed. Trading activity soared 40% above seven-day averages, signaling an active reversal rather than a quiet drift.
One underperformed was the Coindesk 5 Index (CD5), which fell nearly 4%, underscoring broad-based weakness.
The correction came despite a posting of strong growth in the institutional real-world asset lending arm. The market has grown above $450 million since its launch almost two months ago, Data out.
What entrepreneurs should watch
Key technical levels are a potential breakdown risk for AAVE, Coindesk Research’s market outlook tool suggests.
- Support/Resistance: Critical $211.00 support failed, while the $235 level capped an earlier advance that formed resistance.
- Volume Assessment: Three volume spikes at $228, $219, and $213 confirmed selling waves.
- Chart patterns: lower highs and lower lows established bearish trend across a $26.88 range representing 11.4% overall price decline
- Targets and Risks: Failed recovery at $212.70 sets up a deeper pullback.
Disclaimer: Parts of this article were generated with help from AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
