qfx But sellers, sharp as a cricket bat to the shin, intervened immediately. The reversal came on a crescendo of volume, not a dainty fade. The price dropped through $1.318 before settling sulkily near $1.30. The 50 SMA at $1.3216 now mocks price from above, once a friend, now a formidable adversary.
He explained that people aren’t paying attention to the complete picture. He specifically stated he was referring to Brad Garlinghouse’s involvement with cryptocurrency rules, and wasn’t making a personal attack against him.
On April 6, AAVE’s price went on a mini-vacation to $83.92, a drop that wasn’t exactly subtle, falling more than 11% from the previous session’s close at $94.15. This dramatic dive? Blame it on DeFi sector selling and the broader “let’s all be cautious” macro risk mood. That brief trip below $100? It flipped the psychological support into a hefty resistance, leaving the charts looking more bearish than a grizzly bear with a headache.
As if on cue, the trader whose life has been best described as a series of dramatic highs and lower lows reappears, once more crushed by the merciless upward movement. In a recent post on X, the data from the Hyperliquid wallet cemented the latest forced settlement in the vicinity of $68k.
Three Weeks of Agony
As another week kicks off, Ethereum-the crown jewel of altcoins-is showing us all how to hustle in the market. Even with global markets doing their best impression of a roller coaster, Ethereum’s derivatives game is firing on all cylinders, gobbling up volumes like there’s no tomorrow.
The thirteenth article in the 15 part “Deconstructing DeFi” Series.
On Monday, Chaos Labs announced it would relinquish its role as Aave’s main risk overseer. The firm cited a stubborn divergence in risk philosophy, a mounting operational burden after the departure of fellow contributors, and the fact that the protocol’s finances could no longer survive the V4 upgrade.
Key Observations, Pray Attend:
