AAVE cryptocurrency has demonstrated significant growth recently, rising by 30% over the past week. Experts believe AAVE could reach $500, driven by technical patterns and strong activity from large investors.
AAVE Breaks Out of Consolidation with $500 in Sight
AAVE price managed to break free from the descending channel that contained its movement since December 2024. Breaking through the $330 resistance level confirmed the start of a bullish trend, viewed as a reversal from previous market conditions.
Indicators Show Momentum Building
The Bollinger Bands on the daily chart indicate AAVE is nearing the upper band at $360.43, suggesting a continued upward trend if momentum persists. ADX (14) at 14.49 indicates weak overall trend strength, but the Directional Movement Index showcases increased bullish pressure.
AAVE Crypto Large Transactions and Whale Activity
According to IntoTheBlock data, 76% of AAVE holders are in profit, with increased activity from large investors. Transactions over $100,000 have totaled $737.88 million recently, indicating a high level of institutional investor participation.
AAVE strengthens its position in the cryptocurrency market, showing significant growth and solidifying key support levels. Moving forward, the cryptocurrency may continue to grow, influenced by internal dynamics and technical indicators.
