Aave Faces $15B Outflow Following $293M KelpDAO Bridge Exploit
- Security Breach Impact: The KelpDAO rsETH bridge suffered a $293 million exploit, triggering over $15 billion in withdrawals from Aave within days, highlighting the severity of its liquidity crisis.
- Liquidity Exhaustion: Key lending pools on Aave reached 100% utilization, effectively trapping approximately $5 billion in USDT and USDC, which directly impacted user liquidity and the platform's operational integrity.
- Market Reaction: Following the exploit, Aave's total value locked (TVL) plummeted from $48.5 billion to roughly $30.7 billion, losing nearly one-third of its value, indicating the market's acute sensitivity to security issues.
- Inadequate Governance Measures: Although Aave quickly froze rsETH reserves and adjusted loan-to-value ratios, the already exhausted liquidity led to projected bad debt risks ranging from $123.7 million to $230.1 million, suggesting governance actions failed to effectively mitigate the crisis.
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Technical Analysis for AAVE
Technical Sentiment Analysis for Aave (AAVE). As of , Aave (AAVE) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 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 | 52.595 | 69.467 | 85.125 | 101.997 | 117.655 | 134.527 | 150.185 |
| Fibonacci | 69.467 | 81.894 | 89.571 | 101.997 | 114.424 | 122.101 | 134.527 |
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