Aave (AAVE) price has recently experienced a notable increase in its value, showing upward as other cryptocurrencies struggle to stabilize. The currency maintains its bullish momentum, positioned well above key support levels. This strength comes after a correction period, suggesting potential for further gains.
Aave Price Leads as Top Performer Today
Aave price has experienced a significant upswing, making it today’s top performer in the cryptocurrency market. This growth contrasts with the declines seen in other digital currencies.
Currently, the BTC price remains just under the $60,000 mark. Meanwhile, the Ethereum price is steady, hovering around $2,500. Most crypto market coins, except for Aave, have seen a downturn in their values. This trend underscores Aave’s standout performance amidst a general market retreat.
Can the Current Momentum Breach the $150 Mark Soon?
Over the past 24 hours, the Aave has exhibited a robust performance, with its price trajectory indicating an upward trend. The bulls have maintained their momentum, consistently keeping the price above the $100 mark. The AAVE price hovered at $132.27, making a strong surge of approximately 8% during the European trading session.
The 4-hour technical indicators for AAVE price show a bullish trend, with the asset experiencing significant gains within a channel pattern. The Moving Average Convergence Divergence (MACD) recently crossed its signal line, pointing toward potential upward momentum. This comes after a period of consolidation, as indicated by the flat movement in the histogram just before the crossover.
Aave Price Chart| Source: TradingView
According to Coinglass, Aave has recently experienced significant trading activity. The trading volume for Aave surged by 50%, reaching a substantial $358.65 million. Additionally, the open interest in Aave derivatives has also seen a notable increase, climbing by 21.20% to $133.62 million. These metrics indicate a heightened investor interest and market movement surrounding Aave.
Source- Coinglass
Aave price is showing signs of entering a bullish market phase. The current uptrend indicates a possible breach of the $150 resistance level soon. If this upward momentum persists, the top altcoin price may soon reach $160. There’s potential for the price to hit $200, marking a gain of more than 98% by the end of September.
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