Aave The native token for the largest decentralized funding (defi) lending protocol, strong rebound from last week’s lowness, which underwent key resistance levels on Friday afternoon.
The token increased another 2% over the last 24 hours and has risen by 6% this week. It has established $ 284- $ 285-levels, while currently consolidating around $ 290.
The move happened when the wider crypto market stood together with gains everywhere and Bitcoin By breaking over $ 122,000 and throwing itself closer to its August record hill. The wider defi market also accelerated and hit a $ 219 billion in assets across protocols, a new record level, Defillama shows.
Deposits on Aave also climbed up to a record $ 74 billion and cemented its top position among defi protocols per year. Defillama -Data. The platform enjoyed fresh influx due to a recent partnership with up-and-night stablecoin-focused chain plasma. The plasma lending market at Aave strolled over $ 6 billion in less than a week.
Technical analysis shows strong momentum
Technical indicators point to upward potential despite short-term merit pressure at current levels, the Coindesk data survey model shows. However, resistance levels have fixed between $ 290- $ 294 after repeated refusal.
- Price gains 2.33% in 24-hour session.
- Trading Range spans $ 15.17 between $ 279.16 and $ 294.33 extremes.
- Volume spikes to 143,188 units, well over 37,000 average.
- Support level confirmed at $ 284- $ 285.
- Resistance zone established between $ 290- $ 294.
- Intraday High reaches $ 290.37 before turning.
- Consolidation pattern is evolving at current levels.
