Aave Price Facing Potential Drop: Analyst Identifies ‘M’ Pattern

AAVE has experienced a substantial surge since mid-April, soaring more than 120%. However, analysis reveals a potential bearish pattern on the price chart that suggests a significant retracement could be imminent. The token recently touched $330 before retracing to around $310. This recent decline raises concerns among traders about the sustainability of the rally. Crypto analyst Ali has highlighted a possible “M” pattern forming on the daily chart, suggesting a drop to the $230 level if the pattern plays out fully.