Arbitrum Community Approves $71 Million ETH Unlock with 90% Support
- Fund Unlock Proposal: The Arbitrum community overwhelmingly supported a proposal to unlock approximately 30,765 ETH, valued at $71 million, aimed at restoring funds frozen due to the Kelp DAO cyberattack, demonstrating strong community commitment to reviving the DeFi ecosystem.
- Collaborative Rescue Plan: Developed by leading DeFi platforms including Aave Labs and Kelp DAO, the initiative sees participating organizations pledging a total of 43,000 ETH, roughly $101 million, to help mitigate losses from the Kelp DAO attack, showcasing a spirit of collaboration within the DeFi sector.
- Next Steps and Governance: Following the proposal's approval, a temperature check vote will gauge representatives' sentiments on subsequent actions, with the final decision set to go to a binding governance vote on the Arbitrum network, ensuring a transparent and democratic decision-making process.
- Portfolio Diversification: Arbitrum DAO is also moving forward with a plan to transfer 6,000 ETH (approximately $14 million) into the DAO treasury, with an expected annual yield of 288 ETH (around $625,000), aimed at enhancing financial sustainability through a diversified investment strategy.
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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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