AAVE Price Could Hit $200 as Grayscale, Investors Enter
AAVE price recently attempted to break through the $167 resistance level but faced a sharp correction shortly after. However, recent developments, particularly the launch of Grayscale’s AAVE Fund, have created optimism about future price action.
This renewed optimism could spark a major rally for AAVE, prompting investors to wonder if a 33% rally is on the horizon.
AAVE’s Rally Depends on Key Factors
Investor activity around AAVE suggests growing confidence in a possible recovery. Over the past three days, addresses holding between 1,000 and 10,000 AAVE have accumulated over 40,000 AAVE, worth $6 million. This significant buying activity by large holders suggests that they are taking advantage of the current low price, putting them in a good position for a potential price rally.
Historically, when this group gathers in large numbers, it often precedes an upward price movement. These gatherings indicate that institutional investors and large market players expect the upward momentum to continue in the near term.