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- Aave broke out above the $161.21 level, and a successful retest of support positioned it for further upward momentum.
- Rising user engagement and stable liquidation levels indicated strong market sentiment and continued growth potential.
Aave [AAVE] has shown extraordinary growth in 2024, tripling its loan volume to $10B and increasing its Total Value Locked (TVL) by 26.7% to $15.96B.
Its revenue also skyrocketed by 1,628%, reaching an annualized total of $113.84M.
Despite these impressive numbers, Aave now faces critical market challenges. The question remains: can it maintain this momentum, or will external factors slow its rise?
Breaking resistance: Is Aave set to soar?
At press time, Aave was trading at $176.27, reflecting a modest 0.56% increase in the last 24 hours.
Recently, Aave broke through the key resistance at $161.21, which was a significant hurdle. After breaking this level, it successfully retested it as support, suggesting a solid foundation for further growth.
If Aave holds above $176, the next resistance point is $183.75, with $200 as the next major target.
The MACD showed a positive crossover, supporting this bullish outlook. Furthermore, the RSI stood at 52.49, indicating that Aave had plenty…
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