Is Aave (AAVE) Facing Further Downtrend?

Aave (AAVE) is currently trading at $164.90, down 6.36% over the past 24 hours. This recent dip has led to a significant market cap decline, now at $2.48 billion – marking a 6.37% decrease. Trading volume has also shrunk to $210.37 million, a drop of 19.21%. Aave’s price action is currently showing signs of weakness as it drops below its resistance at $168, with support at $160, and if the price breaches this level, further down to $155 or even lower is possible.