Aave

bullish

DeFi

Resistance

<ul>
 <li>Aave (AAVE) price drops 7.6% but remains 131% above July lows.&nbsp;&nbsp;</li>  
 <li>Significant CEX outflows indicate strong investor confidence in AAVE's long-term growth potential.&nbsp;&nbsp;</li>  
 <li>AAVE breaks resistance at $154.21, with bullish momentum aimed at reaching $200.&nbsp;&nbsp;</li> 
</ul>  
<p>On Tuesday, the price of <a href="https://cryptonewsland.com/aave-supply-drops-by-18-4m-as-smart-money-increases-holdings/" target="_blank" rel="noopener noreferrer nofollow">Aave (AAVE)</a> slid by 7.6% to $164.5 after hitting $178 earlier in the week. Despite this pullback, AAVE remains 131% above its July low.&nbsp;</p>  
<p>Data shows that investors are moving their tokens off centralized exchanges (CEX), which is a good sign for long-term holders. Over $6.35 million in AAVE tokens left CEXs this week as AAVE flipped a key resistance level.</p>  
<h2 class="wp-block-heading" id="h-investors-are-bullish-amid-rising-cex-outflows">Investors Are Bullish Amid Rising CEX Outflows</h2>  
<p>AAVE has been one of the top-performing <a href="https://cryptonewsland.com/defi-tokens-dominated-by-gamblefi-gem-170-returns-injective-and-near-backers-take-notice/" target="_blank" rel="noopener noreferrer nofollow">DeFi tokens</a> recently. According to Nansen, the token saw a 4.96x increase in CEX outflows, with $6.35 million worth of AAVE moving into self-custody.&nbsp;</p>  
<p>This suggests that holders expect long-term growth. Additionally, the ten biggest accounts purchased AAVE tokens worth $8.4 million. This exceeded sales of $7.8 million, indicating that investors are still confident in AAVE’s potential. Many are betting on a strong DeFi comeback, with AAVE leading the charge.</p>  
<h2 class="wp-block-heading" id="h-aave-breaks-resistance-sets-its-sights-on-200">AAVE Breaks Resistance, Sets Its Sights on $200</h2>  
<p>Technically, <a href="https://coinmarketcap.com/currencies/aave/" target="_blank" rel="noopener noreferrer nofollow">AAVE</a> flipped a key resistance level at $154.21, its high from March this year. The token remains in an uptrend, staying above the trendline that’s been in place since June 2022. Also, AAVE broke above the 25-week moving average, and the RSI is nearing overbought levels.</p>  
<p>With this momentum, AAVE could continue its bull run. Buyers now have their eyes on the psychological $200 mark. CoinGlass data shows that <a href="https://www.coinglass.com/currencies/AAVE" target="_blank" rel="noopener noreferrer nofollow">open interest in AAVE</a> has remained high, with daily totals above $87 million since mid-August.&nbsp;</p>  
<p>Meanwhile, AAVE’s fundamentals remain strong. The platform has accumulated $12.53 billion in assets, with $8.09 billion borrowed through its services. In the last year alone, AAVE has collected $260 million in fees. This makes it one of the most profitable platforms in decentralized finance today.</p> 
<p>The post <a href="https://cryptonewsland.com/aave-breaks-resistance-cex-outflows-increase/" rel="noopener noreferrer nofollow">AAVE Surges Past Key Resistance Amid Rising CEX Outflows</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

AAVE Surges Past Key Resistance Amid Rising CEX Outflows

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