Aave Completes First Phase of rsETH Technical Recovery
- Recovery Progress: Aave has successfully completed the first phase of technical recovery for rsETH by burning the hacker-held tokens on the Arbitrum network, effectively neutralizing the immediate threat posed by the stolen assets and laying the groundwork for normal operations.
- Liquidity Restoration Plan: Aave plans to gradually supply liquidity to the LayerZero OFT adapter to facilitate the safe return of funds and prepare for the resumption of rsETH services, which will enhance user trust and maintain market integrity.
- Phased Recovery Strategy: By adopting a phased recovery approach, Aave prioritizes security and stability to ensure all protocol interactions are safe for users, thereby reducing the risk of further exploits and demonstrating its maturity in the decentralized finance sector.
- DeFi Security Challenges: The incident highlights ongoing challenges in the DeFi space regarding cross-chain interoperability and liquid staking tokens, with Aave's response indicating a growing capability in managing security incidents, making the upcoming service restoration a focal point for the DeFi community.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for AAVE
Technical Sentiment Analysis for Aave (AAVE). As of , Aave (AAVE) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AAVE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AAVE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Aave (AAVE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 77.88 | 84.46 | 90.35 | 96.93 | 102.82 | 109.4 | 115.29 |
| Fibonacci | 84.46 | 89.224 | 92.166 | 96.93 | 101.694 | 104.636 | 109.4 |
About AAVE
About the author
