Will AAVE's next price be $200 in Q4 2024? Here's what you should know!
Aave, one of the top decentralized finance (DeFi) platforms, has been on a roll lately. Especially since it broke out of its range earlier this year, it has been one of the biggest gainers so far, up more than 7% in the past 24 hours alone.
This surge has not only increased AAVE's market cap by the same percentage, but also its trading volume by 46%, bringing the volume-to-market cap ratio to 16.75%.
This ratio means it's a good investment opportunity now, after all, it shows that AAVE has enough liquidity to stabilize its price and avoid big ups and downs. Speaking of platform strength, the total locked value (TVL) on Aave is also quite impressive, with $11 billion in assets secured.
Looking at AAVE's trend and forecast, the overall price trend this year has been an upward trend. Since breaking out of its previous range, the price of this altcoin has been setting new highs.
In particular, the $140 level has formed a double bottom, indicating that it may continue to rise. Maybe by the fourth quarter of this year, it will be able to stand above the $200 mark again.
Now that AAVE is trading above $150, traders feel that it is likely to close above its recent highs. If the overall market situation continues to improve, it is more likely to reach the $200 target.
Let's talk about AAVE's long and short accounts. Now more and more people are bullish. The proportion of long-term accounts is close to 51%, and short-term accounts are only 49%.
This shows that the days when shorts dominated are over, and now buyers are starting to have the say. The influence of shorts is getting smaller and smaller, which is good news for bulls and makes AAVE's goal of $200 more likely.
Finally, looking at the purchase volume and funding rate, these two indicators have also begun to recover from their previous lows, and are close to the global average of 30%.
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