- Whales secure $12.7M from $AAVE and $UNI trades, showcasing sharp strategies in navigating volatile crypto markets.
- $AAVE consolidates near $380 resistance, with traders eyeing $260 support as a key demand zone for potential rebounds.
- $UNI faces selling pressure at $15 resistance, but support zones signal the potential for bullish reversals and sharp recoveries.
Whales have made profits trading $AAVE and $UNI over the past two days. Wallets like “0x991” and “0x97d” secured $11.3 million in profits by offloading 41,469 $AAVE to Binance. Meanwhile, wallet “0x1d1” cashed out $733,000 from 131,633 $UNI tokens, achieving a 68% profit. Another entity, “0xcc0,” likely linked to Sigil Fund, gained $696,000 from $UNI trades. These moves showcase sharp strategies for navigating volatile markets.
$AAVE Price Dynamics and Market Outlook
$AAVE recently approached resistance near $380, forming equal highs at $382.29, a critical liquidity zone. The price is now consolidating, suggesting indecision among traders. This resistance aligns with a supply zone that has triggered price declines previously.
Traders anticipate a retracement towards the support zone between $290.19 and $280.75. Besides, a broader support at $260.94 aligns with a Fibonacci retracement level of 0.5, marking a potential demand area. A short-term bearish movement could target this level before a bullish reversal.
The price structure suggests a range-bound market. While the upper boundary lies at $380, the lower boundary hovers near $260. Consequently, traders may eye opportunities for long positions during retracements.
$UNI Shows Mixed Signals Amid Key Resistance
The $UNI/USDT trading pair has oscillated between $13 and $16, reflecting a volatile market. Recent peaks above $15 faced strong selling pressure. Candlestick patterns reveal consolidations following bullish surges, while volume activity underscores this trend.
The accumulation/distribution (A/D) line and on-balance volume (OBV) curve exhibit waning bullish momentum. The A/D peaked near 52 million, coinciding with resistance at $15.
Source: CryptoRank
Meanwhile, OBV trends reinforce selling pressure during retracements. Despite declining momentum, traders foresee bullish possibilities. A bounce from support zones could trigger sharp recoveries, eyeing liquidity above resistance levels.
The post Whales Bag $12.7M from $AAVE and $UNI as Key Levels Spark Market Interest appeared first on Cryptonewsland.
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