AAVE: exhausted or not yet?
Aave has been one of top pumping coins last days.
Digging into it's metrics we might notice that most AAVE metrics are looking good and healthy. Confident whales in 'buy' mode, network activity increasing - all good.
However a couple of red flags are clearly visible.
- MVRV 30d:
MVRV is too high. There is a high risk of short term traders taking profits and therefore pressing the price down. Cause this is exactly what MVRV 30d metric is about - average profit of 30d AAVE holders.
2. Whale Transaction Count
Whales transactions count seem to spike around price tops, this is what historical performance shows on the chart above. And the lates spike could also mark a local price top.
Complete onchain metrics AAVE overview: https://app.santiment.net/s/sVbKorXj
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