AAVE’s monthly trajectory is currently pointing at a future bullish run. According to Ali Martinez’s X post, the most recent time $AAVE broke the monthly chart’s TD Sequential resistance trendline was in June 2020, which sparked a 6,400% rise to the 1.618 Fib level.
He further points out that AAVE is attempting to reach this level once more and if it succeeds, a comparable move might cause it to reach $3,500 in the future.
The prediction comes at a time when $AAVE is trading up 5%. At press time, it stands at $321.15.
$AAVE Growing Popularity Likely to Aid Its Surge
AAVE has seen a rise in investor appetite and popularity. Factors like a strong DeFi space fundamental with a large total value locked, positive market sentiment toward Aave’s upcoming updates like the Linea launch, increased whale activity and institutional interest, and technical indicators displaying a bullish trend on the charts, indicate the possibility of further growth, which is why Aave is currently seeing a price increase.
The second-largest decentralized finance system, Aave’s DeFi total value locked, is currently hovering at $8.2 billion, thanks to a series of recent events that have encouraged optimism.
Additionally, Aave will debut on Consensys-supported zk-rollup network Linea after receiving community approval. As a result, Aave will be able to grow and process more transactions while charging less.
These developments are likely to keep $AAVE price afloat and steady against market volatility.
Also Read: AAVE Sets New Milestone With $33.4 Billion In Net Deposits, As $AAVE Surges More Than 8%
$AAVE Price Prediction: What is Happening?
Keeping in mind the current market indicators, the present sentiment for $AAVE is bullish. The token’s Fear & Greed Index is at 76 (Extreme Greed).
Over the past 30 days, Aave has seen 15 out of 30 (50%) green days with 7.30% price volatility. With 27 technical analysis indicators indicating optimistic signals and four indicating negative signs, the overall sentiment of Aave price prediction is bullish.
In the upcoming month, Aave’s 200-day SMA is expected to rise and reach $234.42 by March 02, 2025, according to our technical indicators. During the same period, Aave’s short-term 50-Day SMA will reach $353.65.
One well-liked indicator for determining if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum wave. With an RSI value of 50.36 at the moment, the AAVE market is in a neutral position.
Also Read: Trump Backed World Liberty Buys $AAVE For 3rd Consecutive Day, Spends 662K USDC For $AAVE