- Aave Price Surge in the Last Day
- Aave Technical Indicators Analysis
- Impact of Skyward and Fee Witch Initiatives on Aave
The Aave price soared 9% in the last 24 hours to $106.02 as trading volume surged 75% to $264 million.
Aave Price Surge in the Last Day
In the last 24 hours, Aave posted the best performance among top tokens, indicating renewed interest in the DeFi platform.
Aave Technical Indicators Analysis
The Aave price dipped to the $90 support after hitting the $106 resistance. It then surged back to the $106 resistance, forming a rounding bottom pattern. AAVE trades above both the 50-day and 200-day Simple Moving Averages (SMA), indicating a sustained uptrend. The Relative Strength Index (RSI) also shows bullish sentiment, reaching 66. The MACD also supports bullish prospects, climbing above the neutral line and forming a bullish crossover.
Impact of Skyward and Fee Witch Initiatives on Aave
Strong protocol performance and new initiatives like Skyward and fee witch proposals are key drivers of Aave’s recent growth.
If the current trend continues, bulls are targeting the $122 price level. However, the RSI indicates potential overvaluation, meaning the price could drop back to the $99 support level, aligned with the 200-day SMA.
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