Hi Guys,
It's Big & Big #alert About $AAVE To $200 !!!
AAVE attempts to break THIS resistance again: Will it reach $200 by year-end?
To confirm a breakout from the 800-day range, the price needs to stay above $154 for an extended period.
Aave [AAVE]Â is thriving in the current market environment, outperforming many other crypto assets as the market recovers from the dip on August 5th.
Aaveâs price continues to rise steadily, and recent price action saw it trading above $154, a key resistance level.
To confirm a breakout from the 800-day range, the price needs to stay above this level for an extended period. The weekly chart shows Aave approaching this resistance level for the second time, backed by bullish momentum.
The Wave Trend Momentum Oscillator (WTMO) signals strong upward momentum, increasing the likelihood of breaking this resistance.
If Aave continues forming higher highs and higher lows, a break and retest could solidify the $200 target as the next key level in the mid-term.
However, staying above the $154 level is crucial for this upward momentum to continue, supported by the WTMO showing strong momentum to push prices higher.
Aaveâs growing adoption driving price higher
Aaveâs success is not just seen in its price action; its Total Value Locked (TVL) has been steadily rising since the beginning of the year.
Although it stagnated between April and July, Aaveâs TVL is now rallying again.
Currently, the TVL stands at $19.6 billion, while the total amount borrowed through Aaveâs protocol has reached $7.748 billion.
This strong growth highlights Aaveâs position as a major player in the DeFi space.
The rising TVL and borrowed assets reflect increasing adoption and trust in Aave, which adds further confluence to the idea that its price may reach $200 before the year ends.
