Aave (AAVE) is currently trading at $114.35, reflecting a 24-hour change of -3.81%. The price has oscillated between a high of $120.34 and a low of $111.10, indicating a daily range of 9.24%, suggesting increased volatility in the short term.

The trading volume stands at approximately $1.09 billion, with a volume-to-market cap ratio of 62.71%, indicating strong trading interest relative to its market capitalization. Technical indicators reveal bearish momentum, as the hourly RSI is at 36, signaling a potential oversold condition, while the 7-day RSI of 49 shows a neutral trend.

Analyzing moving averages, the 8-period SMA is at $114.28, showing a slight upward movement of 0.06%. However, longer-term SMAs (13 SMA at $114.77, 21 SMA at $116.61, and 55 SMA at $116.87) are all trending downward, indicating that AAVE is experiencing consistent selling pressure.

In the past week, AAVE has declined by 7.14%, while the 14-day price change shows a modest recovery of 2.24%. However, the 30-day price change reveals a significant drop of 28.04%, highlighting a bearish longer-term trend that cannot be overlooked.

Given the current technical indicators and price action, AAVE is facing downward pressure, and the recent price movements suggest a lack of momentum to sustain any rally. Therefore, with the overall bearish sentiment and consistent selling pressure evident in the technical data, a Hold rating is advised until clearer bullish signals emerge.