{"id":643933,"date":"2024-09-23T06:30:07","date_gmt":"2024-09-23T06:30:07","guid":{"rendered":"https:\/\/uniquehot.com\/?p=643933"},"modified":"2024-09-23T09:45:32","modified_gmt":"2024-09-23T09:45:32","slug":"aave-hits-new-highs-breaks-out-after-2-years-of-consolidation-details","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/aave-hits-new-highs-breaks-out-after-2-years-of-consolidation-details\/","title":{"rendered":"AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation – Details"},"content":{"rendered":"

AAVE rose 20% Wednesday to $170, a level not seen since May 2022. An asset in accumulation for more than two years is attracting traders and analysts who feel it has additional upside potential.<\/p>\n

Related Reading: Avalanche (AVAX) Rallies On Fed Rate Cut, DeFi Growth Boosts Long-Term Outlook<\/a><\/div>\n

AAVE’s strong recovery since July 2024 impressed traders despite market consolidation and low volatility. Within months, the asset rose 125% from $72 to $170.<\/a><\/p>\n

End Of Accumulation Phase For AAVE?<\/strong><\/h2>\n

According to the founder of DefianceCapital, Arthur, it means that the crypto has reached its end of the almost 900-day accumulation phase. There is a clear technical sign: the price has been forming higher highs and higher lows on the daily chart.<\/p>\n

Should the daily candle close above $153, some analysts believe that the asset can break toward the main level of resistance of $200.<\/p>\n

\n

$AAVE<\/a> is trading at the highest level since May 2022 and seems to be breaking out from a 2 year consolidation pattern.<\/p>\n

Expect ATH reclaim to further solidify DeFi Renaissance. pic.twitter.com\/pn29UsBMes<\/a><\/p>\n

\u2014 Arthur (@Arthur_0x) September 22, 2024<\/a><\/p><\/blockquote>\n

\"\"<\/p>\n

Crypto expert TraderKoz recently highlighted a strong bounce of AAVE from the accumulation zone, further amplifying the bullish mood. According to him, the asset is ready to “blow” in the next trading sessions. His conclusions are consistent with the general consensus of the market which said that the coin was due for an enormous upsurge in its price.<\/p>\n

AAVE could rise 232% to $536 by October 2024. CoinCodex data<\/a> reveals market momentum and technical alignment support this prognosis.<\/p>\n

\n

$AAVE<\/a> breaking out of almost a 900 day accumulation range<\/p>\n

Look for charts like this and load your bags pic.twitter.com\/wbb4pe2gVK<\/a><\/p>\n

\u2014 TraderKoz (@TraderKoz) September 22, 2024<\/a><\/p><\/blockquote>\n

AAVE market cap currently at $2.5 billion. Chart: TradingView<\/a><\/figcaption><\/figure>\n

Rising Total Value Locked (TVL)<\/strong><\/h2>\n

The Total Value Locked (TVL) of AAVE rose nearly 100% from January 2024 with a present value at the time of writing of $12.181 billion. Any rise in TVL is indicative of growing interest by investors. This, most of the time, tends to have an upward price effect. DeFi is becoming alive again, AAVE\u2019s rising TVL shows it\u2019s reaping the benefits of this renewed enthusiasm.<\/p>\n

Figures from Santiment shows the total supply of AAVE now dominated by large holders is 55%. Such concentration may hint at a particular level of centralization but also symbolizes massive confidence from major investors. The whales have been consistently gathering the asset as a sign of belief in how well AAVE will perform going forward.<\/p>\n

Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains<\/a><\/div>\n

Bullish Momentum Continues<\/strong><\/h3>\n

Further support for this bullish trend is the AAVE daily exponential moving averages (20, 50, 100, and 200), which implies a high momentum on price action. If this trend continues and breaches above the resistance level of $200, several analysts believe that it will leave a clear path toward $260 in the near term.<\/p>\n

AAave’s transaction volume is still trending upwards. Santiment data shows that the profit loss ratio stands at 4.472, where most of these trades are closing with a profit. So with these kinds of profitable trades on the rise, holders’ confidence only grew with big investors ramping up exposure to AAVE.<\/p>\n

\"\"
Source: CoinCodex<\/a><\/figcaption><\/figure>\n

Forecast Is Bright For AAVE Price<\/strong><\/h3>\n

CoinCodex projects AAVE to rise in October of 2024. The market is still generally positive, although the Fear & Greed Index has run out and resides at a neutral 52. AAVE, however, has closed up for 13 out of the past 30 days, so that’s a decent streak of strength.<\/p>\n

Featured image from Fortune, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

AAVE rose 20% Wednesday to $170, a level not seen since May 2022. An asset in accumulation for more than two years is attracting traders and analysts who feel it has additional upside potential. Related Reading: Avalanche (AVAX) Rallies On Fed Rate Cut, DeFi Growth Boosts Long-Term Outlook AAVE’s strong recovery since July 2024 impressed traders despite market consolidation and low volatility. Within months, the asset rose 125% from $72 to $170. End Of Accumulation Phase For AAVE? According to the founder of DefianceCapital, Arthur, it means that the crypto has reached its end of the almost 900-day accumulation phase. There is a clear technical sign: the price has been forming higher highs and higher lows on the daily chart. Should the daily candle close above $153, some analysts believe that the asset can break toward the main level of resistance of $200. $AAVE is trading at the highest level since May 2022 and seems to be breaking out from a 2 year consolidation pattern. Expect ATH reclaim to further solidify DeFi Renaissance. pic.twitter.com\/pn29UsBMes \u2014 Arthur (@Arthur_0x) September 22, 2024 Crypto expert TraderKoz recently highlighted a strong bounce of AAVE from the accumulation zone, further amplifying the bullish mood. According to him, the asset is ready to “blow” in the next trading sessions. His conclusions are consistent with the general consensus of the market which said that the coin was due for an enormous upsurge in its price. AAVE could rise 232% to $536 by October 2024. CoinCodex data reveals market momentum and technical alignment support this prognosis. $AAVE breaking out of almost a 900 day accumulation range Look for charts like this and load your bags pic.twitter.com\/wbb4pe2gVK \u2014 TraderKoz (@TraderKoz) September 22, 2024 Rising Total Value Locked (TVL) The Total Value Locked (TVL) of AAVE rose nearly 100% from January 2024 with a present value at the time of writing of $12.181 billion. Any rise in TVL is indicative of growing interest by investors. This, most of the time, tends to have an upward price effect. DeFi is becoming alive again, AAVE\u2019s rising TVL shows it\u2019s reaping the benefits of this renewed enthusiasm. Figures from Santiment shows the total supply of AAVE now dominated by large holders is 55%. Such concentration may hint at a particular level of centralization but also symbolizes massive confidence from major investors. The whales have been consistently gathering the asset as a sign of belief in how well AAVE will perform going forward. Related Reading: Solana Jumps 10% As Fed Eases Rates, Analysts Eye Even Higher Gains Bullish Momentum Continues Further support for this bullish trend is the AAVE daily exponential moving averages (20, 50, 100, and 200), which implies a high momentum on price action. If this trend continues and breaches above the resistance level of $200, several analysts believe that it will leave a clear path toward $260 in the near term. AAave’s transaction volume is still trending upwards. Santiment data shows that the profit loss ratio stands at 4.472, where most of these trades are closing with a profit. So with these kinds of profitable trades on the rise, holders’ confidence only grew with big investors ramping up exposure to AAVE. Forecast Is Bright For AAVE Price CoinCodex projects AAVE to rise in October of 2024. The market is still generally positive, although the Fear & Greed Index has run out and resides at a neutral 52. AAVE, however, has closed up for 13 out of the past 30 days, so that’s a decent streak of strength. Featured image from Fortune, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":643950,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[79511,142,6664,1742],"class_list":["post-643933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-aave","tag-altcoins","tag-crypto","tag-digital-currency"],"acf":[],"yoast_head":"\nAAVE Hits New Heights, Breaks Out After 2 Years Of Consolidation - Details<\/title>\n<meta name=\"description\" content=\"AAVE rose 20% Wednesday to $170, a level not seen since May 2022. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation – Details","url":"http:\/\/uniquehot.com\/news\/aave-hits-new-highs-breaks-out-after-2-years-of-consolidation-details\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/aave-hits-new-highs-breaks-out-after-2-years-of-consolidation-details\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/a_68177f.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/a_68177f.jpg?fit=1425%2C954"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["aave","altcoins","crypto","digital currency"],"dateCreated":"2024-09-23T06:30:07Z","datePublished":"2024-09-23T06:30:07Z","dateModified":"2024-09-23T09:45:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"AAVE Hits New Highs, Breaks Out After 2 Years Of Consolidation – Details\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/aave-hits-new-highs-breaks-out-after-2-years-of-consolidation-details\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/aave-hits-new-highs-breaks-out-after-2-years-of-consolidation-details\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/a_68177f.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/a_68177f.jpg?fit=1425%2C954\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"aave\",\"altcoins\",\"crypto\",\"digital currency\"],\"dateCreated\":\"2024-09-23T06:30:07Z\",\"datePublished\":\"2024-09-23T06:30:07Z\",\"dateModified\":\"2024-09-23T09:45:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/09\/a_68177f.jpg?fit=1425%2C954","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/643933"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=643933"}],"version-history":[{"count":8,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/643933\/revisions"}],"predecessor-version":[{"id":643954,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/643933\/revisions\/643954"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/643950"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=643933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=643933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=643933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}