Aave Price had a turbulent session after rumors tied to World Liberty Financial (WLFI). On August 23rd, tokens fell from $385 to $339. This is a decline of more than 8%. But that same $339 level is held as strong support.
Volatility has skyrocketed, but data shows that movement is more emotionally driven than structure, and Aave is brought about for a higher target.
Replacement spares and whale accumulation back
Over the past 30 days, Aave Exchange Reserves has dropped by 4.33% to slide to 5.4 million tokens. That means about 244,400 Aave left trading platform. At the current price of $341, this amounts to about $83.3 million worth of tokens.
At the same time, whale wallets increased their holdings by 13.49%. Their stash rose from 17,222 Aave to 19,542 Aave, adding 2,320 tokens. At current prices, the extra holdings are worth nearly $790,000.
Large wallets during a reduced replacement reserve usually show reliability from deep pocket players, which may explain why the WLFI-driven Aave Price Dip was limited.
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Used coins and cost base heatmap check for stability
Another metric to consider is the used coin age band. This indicator tracks whether old coins are being used, which often indicates sales pressure. On August 23rd, total deleted coins were standing at 46,600 Aave. By press time it had dropped to 15,230 Aaves. This is about a 67% decrease.
Few old coins to move mean that long-term holders didn’t rush out, even during rumoured falls.
A costbays heatmap that shows where the traders accumulated tokens adds additional context.
For $339, it holds around 143,470 Aaves. Another 135,820 Aave sits near $337. These clusters reflect a strong demand zone and confirm why $339 served as a turning point. This zone may be able to provide support even if another pullback appears.
The largest accumulation band is deep at $272.90. There, heavy holdings provide final support. As long as that level doesn’t break, the Aave structure will remain intact.
Aave Price Action: Target and Disable
August has already been a strong month for Aave prices. From $244 at the beginning of the month to $385 on August 23, the tokens recorded profits of nearly 58%. Despite the WLFI set-off, it is still trading at around $340 and holds an upward trend.
The Fibonacci Extension Tool has placed $430 as its next bullish target, about 26% higher than its current level. A day closure exceeding $371 has been confirmed to open this pass. However, posting the current dip, $350 has also emerged as a strong resistance level for Aave prices. Even in previous cost-based heat maps, $352 is identified as a strong accumulation level and therefore a significant zone of resistance.
However, traders must also watch the invalidation level. A drop below $275 is split into the largest cost-based cluster at $272.90, potentially turning the structure over in the short term. When it comes to immediate support, $334 looks strong.
Wlfi Jitter is shrugging as the key indicator still points to $430.
