AAVE Price Ignores Worries From WLFI As Key Indicators Still Point To $430

The price of AAVE has been volatile for a few sessions following rumors surrounding World Liberty Financial (WLFI). On August 23, the Token fell from $385 to $339 — a drop of more than 8%. However, the $339 level has held as strong support.

Despite the heightened volatility, data suggests the move is more psychological than structural, and AAVE remains on track to hit higher targets.

Exchange Reserves and Whale Accumulation Come Back Strong

Over the past 30 days, the AAVE exchange reserve has decreased by 4.33% to 5.4 million Token. This means that approximately 244,400 AAVE have left exchanges. At the current price of $341, this equates to approximately $83.3 million worth of Token leaving exchanges, a strong sign of accumulation rather than selling.

At the same time, whale wallets increased their holdings by 13.49%. Their number increased from 17,222 AAVE to 19,542 AAVE, an additional 2,320 Token. At current prices, this additional holding is worth nearly $790,000.

Large wallets adding while exchange reserves decrease usually signals confidence from deep-pocketed players, which could explain why AAVE price dropped due to limited WLFI .

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Cost and coins spent heatmap confirms stability

Another metric to XEM is the age range of spent coins. This metric tracks whether old coins are being spent, which typically indicates selling pressure. On August 23, the total number of spent coins was 46,600 AAVE. At the time of writing, this number has dropped to 15,230 AAVE — a drop of about 67%.

Less old coins moving around means long-term holders are in no rush to exit, even during times of rumor-driven price drops.

The cost basis heatmap, which shows where traders have accumulated Token, provides further context.

At $339, around 143,470 AAVE is holding. Another 135,820 AAVE is located near $337. These clusters reflect strong demand zones, confirming why $339 Vai as a turning point. Even if another pullback occurs, this zone could provide support.

The largest accumulation band lies deeper at $272.90, where large holdings provide a final line of support. Unless that level is broken, AAVE 's structure remains intact.

AAVE Price Action: Targets and Invalidation

August has been a strong month for AAVE price . From $244 at the beginning of the month to a high of $385 on August 23, the Token has recorded a gain of nearly 58%. Despite the crash from WLFI, it is still trading around $340, maintaining its uptrend.

The Fibonacci extension tool places the next upside target at $430, which is about 26% above current levels. A confirmed daily close above $371 would open up this path. However, after the current decline, $350 has also emerged as a strong resistance level for AAVE price. Even the pre-existing cost basis heatmap identifies $352 as a strong accumulation level and thus a key resistance area.

However, traders should also keep an eye on invalidation levels. A drop below $275 could break into the largest cost base cluster at $272.90 and flip the structure to bearish in the short term. For immediate support, $334 looks quite strong.