Latest, check it out! Driven by bullish sentiment, AAVE price approaches a 3-year high

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AAVE's price continues to soar, solidifying its position as the largest lending protocol in the cryptocurrency space, with a market cap of $5.5 billion—greater than the total of all other top ten lending protocols combined.

Driven by strong bullish momentum and increasing market interest, the token has risen 220% this year, with a 110% increase in just the past 30 days. Technical indicators such as RSI and CMF highlight the ongoing positive trend, although some signs of momentum cooling suggest a potential consolidation in the future.

AAVE's Relative Strength Index (RSI) currently stands at 59.2, down from 69.19 on December 23, when its price peaked at $382. The decline in RSI indicates that AAVE's price has moved out of the overbought territory, where increased buying pressure typically precedes a price correction.

While the current RSI still reflects relatively strong momentum, the pullback suggests the market may be stabilizing after a period of intense buying activity.

RSI is a momentum indicator used to measure the speed and magnitude of price changes, ranging from 0 to 100. Values above 70 indicate overbought conditions, signaling a potential correction, while values below 30 indicate oversold conditions, typically signaling a rebound.

AAVE's RSI is 59.2, and the token remains in a neutral to bullish range, suggesting that if buying momentum rebuilds, the upward trend may continue in the short term. However, the drop from overbought levels also indicates that AAVE's price may consolidate, allowing the market to absorb recent gains before deciding on the next move.

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