Aave Progresses on rsETH Recovery Plan Amid Legal Developments
- Court Approval for ETH Transfer: Federal Judge Margaret Garnett authorized an onchain governance vote allowing the transfer of $71 million in frozen ETH on Arbitrum to Aave LLC, ensuring the recovery efforts can proceed while preserving legal claims related to North Korean terrorism judgments.
- Liquidation and User Protection: On May 6, Aave liquidated eight positions linked to the thief, successfully transferring the rsETH collateral to the Recovery Guardian, while ensuring that Umbrella stakers were unaffected during the liquidation process, demonstrating Aave's effectiveness in protecting user assets.
- Governance Proposals Passed: Governance proposals from both Arbitrum DAO and Mantle DAO were approved in support of the recovery efforts, indicating broad community support for the recovery plan and laying the groundwork for the subsequent ETH transfer.
- Next Recovery Steps: Aave plans to burn the liquidated rsETH in the next phase of the recovery process and restore the backing of the Ethereum lockbox, with rsETH withdrawals expected to reopen, further enhancing user confidence in the protocol.
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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 | 75.205 | 78.877 | 82.855 | 86.527 | 90.505 | 94.177 | 98.155 |
| Fibonacci | 78.877 | 81.8 | 83.605 | 86.527 | 89.45 | 91.255 | 94.177 |
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