[With the involvement of Grayscale and investors, the price of AAVE may reach $200]
AAVE's recent increase in bullish sentiment could push prices up 33%. Over the past three days, addresses holding between 1,000 and 10,000 AAVE have accumulated more than 40,000 AAVE, worth $6 million, showing the confidence of large holders in rising prices.
Technical indicators such as the RSI bouncing off its neutral line suggest strong market momentum for AAVE. In addition, Grayscale’s launch of AAVE Trust has enhanced market confidence and attracted more institutional investors.
Currently trading at $150, AAVE is up 8% today and targeting resistance at $153. A successful breakout would challenge $167 and could lead to further gains towards $200, a 33% gain and an 18-month high.
However, failure to break above $153 could see AAVE drop to $116, below the current support at $126, affecting the bullish outlook.
