AAVE price has surged significantly, market interest has surged, and innovative collaborations are leading the trend

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AAVE has recently experienced a notable upward trend in the cryptocurrency market. The token has risen by 18% in the past 24 hours, reaching a price of $379.02, which has led to an astonishing 107% growth for AAVE this month, approaching the historical highest point (ATH) of $666.86 set in 2021, with an increase of 43%. One of the main factors driving AAVE's recent rise is the smart value recovery (SVR) project developed in collaboration with Chainlink. This initiative aims to redistribute the revenue from maximum extractable value (MEV) to users, with 40% of the MEV liquidation profits being redistributed to AAVE users, providing more participation opportunities for the AAVE ecosystem.

Market Interest and Technical Indicators

AAVE's market trading volume has increased by 62% in the past 24 hours, reaching $1.44 million, indicating strong interest from market participants in the token. From a technical analysis perspective, AAVE's price has broken through the key resistance level of $342, and analysts expect that if the price exceeds $386, AAVE's value could rise to $410.

Favorable technical indicators also support this positive outlook. The RSI remains neutral, while moving averages support buying pressure, creating a favorable environment for price increases. Additionally, the 'Adam and Eve' pattern formed on the chart suggests that AAVE's upward trend may continue.

As AAVE reaches its highest level in three years, and its market momentum and innovative projects continue to attract investors' attention, this activity in the cryptocurrency market is being closely monitored by market participants.

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