Aave is now trading around a level-flip setup, with $94.76 moving from reliable support to active resistance. The token is in a narrow channel, with support at $94.10 and resistance at $95.80, and the most recent close is $94.61. That leaves price below the key reversal point and keeps the market focused on whether the breakdown can be reversed.
The script frames this as a straightforward structural test. If Aave can reclaim $94.76 and turn it back into support, the recent weakness could resolve into a base. If not, repeated failures under that level would strengthen the case that the former floor has become a ceiling.
Positioning is not yet offering a strong answer either way. Open interest is $36.6 million and down more than 1.5% on the day, while funding is positive at 5.3% annualized. That suggests fading participation rather than panic, and it does not indicate the kind of aggressive build in new bets that would make a breakout more convincing.
The next move therefore depends heavily on whether capital returns as price approaches those boundaries. A decisive reclaim above $94.76 with stabilising open interest would improve the setup materially, while a drop below $94.10 would reinforce the breakdown and make the resistance flip harder to challenge.