Aave (AAVE) crypto has broken below key support levels, indicating a shift towards bearish momentum despite the protocol experiencing significant growth in 2023 and early 2024. 20-week and 21-week exponential moving averages currently sit at $254.73 and $246.92 respectively, showing AAVE’s price has dropped below this support following a prolonged downtrend. The token’s rally above the $600 mark in 2021 before entering a decline marked a significant low point before recovering. While AAVE experienced temporary rallies that met resistance near key moving averages throughout 2023, it was only in late 2023 that prices began to climb and surpass $200 before surging above $400 in early 2025. However, recent price action has shown a bearish trend with AAVE slipping below key support levels. The market reaction this month will be critical, as AAVE’s price remains susceptible to further downward pressure if the recent trend continues. 2023 saw a surge in DeFi activity contributing to a strong performance for Aave, and in early 2025, revenue spiked to $138.39 million with total value locked (TVL) reaching $20 billion. This impressive growth was driven by the launch of V3.3 which introduced a token buyback mechanism, boosting investor confidence. Looking ahead, Aave’s ability to sustain this TVL and revenue will likely dictate its long-term trajectory.