Revolut transferred more than $6.44 million worth of AAVE from its cold wallets to Coinbase within a single day, shifting away from its previous pattern of selling through hot wallets.
The change revived concerns over fresh exchange-bound supply and tested the market’s ability to absorb large transactions.
However, this transfer alone did not trigger an immediate breakdown in price structure. Instead, traders continued evaluating whether the movement represented profit-taking or routine treasury management.
The scale of the deposits still attracted attention because cold wallet transfers often signal a stronger intention to move assets toward exchanges.
Funding Rates reflect sustained bullish conviction
Derivatives traders also maintained a constructive outlook throughout the session.
OI-Weighted Funding Rates stayed positive at 0.0045%, showing that long-position holders continued paying a premium to maintain their exposure. The reading suggested bullish positioning remained dominant instead of shifting toward defensive short exposure.
Although funding fluctuated during previous weeks, the latest reading confirmed leveraged traders still favored higher prices. However, the premium remained relatively modest, reducing concerns that the Futures market had become excessively overheated.
The combination of positive funding and resilient spot demand reinforced the broader bullish narrative despite renewed selling concerns.
If derivatives positioning remains stable, leveraged participants could continue supporting AAVE’s recovery rather than accelerating downside volatility.
AAVE defends trendline while challenging resistance
At the time of analysis, Aave [AAVE] traded near $98.21 after repeatedly respecting its rising trendline from the June lows.
The asset also challenged the $100 resistance area without producing a decisive breakout.
Meanwhile, the Relative Strength Index (RSI) printed 58.01, remaining comfortably above the neutral 50 level and reflecting healthy buying strength without entering overbought territory. The RSI moving average also stood at 55.49, supporting the broader recovery structure.
Price continued forming higher lows along the ascending trendline, showing buyers consistently defended pullbacks instead of surrendering control.
If AAVE closes above $100, buyers could target the next resistance around $120.
However, another rejection would likely shift attention back toward the $90 support, where the current uptrend would face its next important validation.
Final Summary
- Revolut’s exchange transfers increased supply concerns, yet buyers continued absorbing available AAVE liquidity.
- AAVE still defended its uptrend, with the $100 resistance remaining the immediate focus.