Aave [AAVE] experienced remarkable growth in 2024, tripling its loan volume to $10 billion and increasing its total value locked (TVL) by 26.7% to $15.96 billion. Aave’s revenue also surged by an astounding 1,628%, reaching an annual total of $113.84 million.
Despite these impressive achievements, Aave faces new market challenges. The question remains whether it can sustain this momentum or if external factors will slow its ascent.
Breaking Resistance: Is Growth Continuing?
Aave is currently trading at $176.27, reflecting a modest increase of 0.56% over the past 24 hours.
Recently, Aave broke through the key resistance at $161.21 and successfully retested this level as support, providing a solid foundation for further growth.
If Aave holds above $176, the next targets are $183.75 and ultimately $200.
Technical indicators support this bullish scenario:
MACD showed a positive crossover, indicating continued upward momentum.
RSI at 52.49 suggests that Aave still has room to grow before reaching overbought conditions.
These factors position Aave strongly for continued growth.
Increase in Exchange Reserves: A Sign of Selling Pressure?
Aave’s exchange reserves increased by 0.91%, reaching $2.629 million. This indicates a slight rise in selling pressure as more tokens are held on exchanges.
While this increase is notable, it is not yet significant enough to disrupt Aave’s bullish trend. However, monitoring this metric in the coming days will be crucial.
If reserves continue to grow, it could signal a potential shift in price action, but for now, the situation remains manageable.
Growing User Base and Transactions
The number of active addresses increased by 1.07%, while total transactions rose by 1.03% to 4.117 million.
This growth indicates greater user engagement and increasing adoption of the Aave platform.
The expanding user base and activity levels strengthen the case for continued price appreciation of AAVE.
Stable Liquidations: A Calm Market?
Over the last 24 hours, liquidations have remained stable:
$650.74K in long liquidations
$341.22K in short liquidations
These figures are within expected ranges and do not indicate significant volatility. However, a sharp increase in liquidation volumes could signal heightened market instability. For now, the market sentiment remains positive, supporting the continuation of the bullish trend.
Can Aave Reach $200?
2024 has been an impressive year for Aave, and technical analysis suggests further growth is possible:
Successful retesting of the $161.21 support level
Strong signals from indicators such as MACD and RSI
If Aave maintains support at $176 and sustains its current growth momentum, reaching the $200 mark is well within reach.
#AAVEprice , #priceprediction , #cryptoanalysis , #CryptoNewss , #Altcoins👀🚀
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
