Aave’s recent price action shows remarkable strength and climbs an additional 3.8% over the last 24-hour period and now up 25% since Monday.
The token broke through key resistance to $ 311.50 with unique volume, suggesting the potential for continued movement upwards.
This technical outbreak was supported by significant basic development in the decentralized financing room (DEFI). The US Securities and Exchange Commission on Monday held a roundtable discussion on the sector with key figures participating. There, SEC chairman Atkins suggested exploring legislative exceptions to defi -businesses and spur optimism for defense future.
Market analysts remain optimistic with regard to Aave’s long -term potential with some setting goals as high as $ 1,000 per year. Token, although such predictions should be contacted with caution. The platform’s strong basic elements and increased adoption position place it as a significant player in the evolving defi landscape.
Technical analysis
- Aave established a significant high volume support zone around $ 302.35-302.52, while broke through the $ 311.50-level resistance during 12:00 UTC Hour with unique volume (179,461 units), exceeding the 24-hour average by over 140%.
- The total range of 20.37 points (6.73%) highlights increased volatility, where the price action forms an increasing channel pattern and finds speed after consolidation between $ 305-310 for several hours.
- A falling channel pattern formed after the 13:30 sale that saw volume spike for over 6,100 units at. 13:32, with the correction that found support near $ 312.00, which represents a 38.2% fibonacci retracement of the previous upward movement.
- Price consolidated between $ 312.00-312.60 in the last 15 minutes of falling volume, suggesting potential stabilization before the next directional trait.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
