AAVE has been a top performer in the crypto market, with a 20% gain over seven days and its market cap doubling to over $2.5 billion in three months. The number of wallets holding at least 100 AAVE tokens increased by 7% since mid-June, reaching 3,229, fueling buying momentum. The Relative Strength Index (RSI) remains bullish at 69, while the Chaikin Money Flow (CMF) shows positive buying activity.
AAVE is currently trading at $168, trending in an ascending channel. Resistance at $180 led to a correction, with the Williams %R dropping to -24, signaling a cooldown. Support sits at $158 at the 0.786 Fibonacci level, where another breakout may occur if buying momentum stays strong.
If AAVE fails to maintain support at $148, a bearish reversal could follow. Volatility is expected between $161 and $182 as traders look to maximize profits or limit losses, with over 456,000 tokens bought at these levels.