$AAVE breaks past $150: Can it rally another 75% next? - AMB Crypto Analytics

Analysts suggest that if Aave (AAVE) maintains its price above $154, it could potentially rise to $260, representing a 75% gain. Although Aave briefly rejected this resistance level, this is typical before further upward movement. The MACD indicator, previously bearish, has turned bullish, indicating a potential rally.

AAVE’s performance is notable compared to retail long positions for BTC/USDT and AAVE/USDT. Only 22% of retail accounts are long, while Open Interest is growing. This trend suggests that long traders are gaining control and AAVE might be poised for a price surge.

Open Interest for AAVE has steadily increased, reaching $204.58 million at a price of $149.26. Additionally, Aave’s decentralized stablecoin, GHO, has grown significantly, with a supply of 135 million tokens and 2.4K holders. The stablecoin’s stability and potential expansion across other blockchains bolster Aave’s positive outlook.