bullish

Gains

AAVE price holds good fundamentals and is globally accepted. It’s Backed by the multiple investments of backers like @Blockchain Capital, @ Blockchain.com Ventures, and a few more.&nbsp; 
Its market cap has changed significantly since the dip witnessed on August 5th. It has grown from $1.20 Billion to $1.90 Billion, positioning 40th in global crypto ranking. 
According to Chainbroker, it has an AA tier security score of 90.09. It has robust governance strength and good trust among the community.&nbsp; 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="561" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-291-1024x561.png" alt="Security &amp; X score | Source: chainbroker" class="wp-image-677262" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-291-1024x561.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-291-300x164.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-291-768x421.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-291-1536x842.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-291-150x82.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-291-696x381.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-291-1068x585.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-291.png 1551w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Security &amp; X score | Source: chainbroker
 </figcaption>
</figure> 
Many globally known names, like Sam Bankman and more, follow AAVE on X. It has a good presence on X and a Twitter score of 576. 
<h2 class="wp-block-heading" id="h-analyst-s-take-on-aave-future-price">Analyst’s Take on AAVE Future Price?</h2> 
As per the analyst @cryptoknight890, the broader picture highlighted that the long accumulation could end anytime soon.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24Aave&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Aave</a> will pump like <a href="https://twitter.com/search?q=%24link&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$link</a> in 2023 <a href="https://t.co/uR5E1Scgwu">pic.twitter.com/uR5E1Scgwu</a>— KNIGHT $INJ TO 100$ (@cryptoknight890) <a href="https://twitter.com/cryptoknight890/status/1825629623604162793?ref_src=twsrc%5Etfw">August 19, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
Meanwhile, the end of this range could ignite a parabolic move, where the analyst seeks potential up to $500. 
<h2 class="wp-block-heading" id="h-derivatives-showcase-bulls-on-fire">Derivatives Showcase Bulls On Fire</h2> 
With the recent price rally, the current trend has become bullish. The derivatives volume has grown by 150%, reaching an amount of $731.34 Million in 24 hours.&nbsp; 
Likewise, the open interest showed 49% more contracts opened for the current trend, amounting to $169.54 Million. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="500" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-292-1024x500.png" alt="Total Liquidations &amp; OI | Source: Coinglass" class="wp-image-677267" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-292-1024x500.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-292-300x146.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-292-768x375.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-292-1536x750.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-292-150x73.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-292-696x340.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-292-1068x521.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-292.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Total Liquidations &amp; OI | Source: Coinglass
 </figcaption>
</figure> 
Similarly, the long-short ratio signified bold momentum to go green, as the ratio was 1.1048. It meant the dominance of bulls over bears. The 24-hour shorts liquidated were $1.10 Million, and the longs were mere at $224.81K. 
<h2 class="wp-block-heading" id="h-what-does-aave-price-structure-signify-on-the-chart">What Does AAVE Price Structure Signify on the Chart?</h2> 
In the past 24 hours, the AAVE token pierced 14% higher in intraday. The boost has led to cracking the long-served range’s upper border of $115. When writing, it traded at $129.05. 
The AAVE price thrust has beaten the dynamic hurdles of 50-day and 200-day EMA bands. AAVE’s past 7 days’ gains of more than 36% from the $90 support and coinciding trendline support have impressed investors. 
Overall, in the broader picture, the shown movement in the $80 to $120 range in the past 12 months has been broken. Additionally, the sustenance above could extend gains.  
<a href="https://in.tradingview.com/chart/AAVEUSD/GcgJOqH0-What-Does-AAVE-Price-Structure-Signify-on-the-Chart/"></a><a href="https://in.tradingview.com/u/Sam_TCR/"></a><a href="https://in.tradingview.com/"></a>  
In the bullish case, the short-term rise could lead toward the upper boundary. Recently, <a href="https://www.thecoinrepublic.com/price-prediction/aave/">AAVE </a>has delighted traders and cruisers in the asset after the displayed momentum.&nbsp; 
Likewise, the sustenance above the range border could shoot to capture the $134.01 and $145.01 price targets. 
On the contrary, failing to sustain above the range’s upper border or dipping below $115 would mean a fall. The bears could eye for $108 and $98, respectively. 
Meanwhile, the MACD has formed a bullish cross above the zero line with a histogram positive at 2.51. The RSI was above the median line at 70.88, which is an overbought entrance, which could be a point of suppression in gains. 
The post <a href="https://www.thecoinrepublic.com/2024/08/22/aave-price-gains-36-in-7-days-500-the-next-target/">AAVE Price Gains 36% In 7 Days: $500 the Next Target?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

AAVE Price Gains 36% In 7 Days: $500 the Next Target?

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 23, 2024

Gate Ventures and Abu Dhabi Blockchain Center Launch $100M Web3 Fund

Bitcoin’s Eye For $180K Surge: These Bullish Patterns Pointing to a Big Breakout?

Goldman Sachs Contradicts Past Skepticism with $418M Bitcoin ETF Investment

DMM Crypto Partners Progmat To Launch Stablecoin Under Japan Regulation

Who is Maya Harris? The Kamala Harris Sister Who Snatched the DNC Spotlight

RLUSD by Ripple: The New Stability in Crypto—Will It Outshine USDT and USDC?

Join our free newsletter for daily crypto updates!