Aave

Satoshi

LunarCrush

Coin

<p><a href="https://coinmarketcap.com/currencies/aave/" target="_blank" rel="noopener noreferrer nofollow">The price of Aave </a>has spiked by more than 35% in the past 7 days, outperforming many other cryptos in the top 100 list.</p>
<p>The price recently bounced off strong support at around $80 and has been rallying since then. The support has been a key level where buyers have been pushing the price up since October 2023. Reaching support again 7 days ago could have triggered a lot of buy orders, making the price spike.&nbsp;</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="484" src="https://captainaltcoin.com/wp-content/uploads/2024/07/image-426-1024x484.png" alt="" class="wp-image-525142" srcset="https://captainaltcoin.com/wp-content/uploads/2024/07/image-426-1024x484.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-426-300x142.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-426-768x363.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-426-1536x726.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-426-2048x968.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-426-317x150.png 317w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-426-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-426-740x350.png 740w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-426-788x372.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-426.png 1963w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The price has bounced off the support more than 5 times since&nbsp; October 2023. The price went tested at the level again point at the beginning of July, which was another opportunity to buy for AAVE holders, triggering a major price rally.</p>
<h2 class="wp-block-heading" id="increase-in-social-activities">Increase in Social Activities&nbsp;</h2>
<p>Another factor making the price of Aave rise is that its share of social activities has been increasing.&nbsp;</p>
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   <p lang="en" dir="ltr">You may have already known that <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$AAVE</a> is having a great week with price moving up +14.97% but did you know its share of social activity is also increasing?<br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/AAVE?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#AAVE</a> social dominance hit .4% of all social activity across the entire crypto market earlier today, placing it as the… <a href="https://t.co/aiBFwrGp8q" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/aiBFwrGp8q</a></p>— LunarCrush Social Intelligence (@LunarCrush) <a href="https://twitter.com/LunarCrush/status/1811545082996343232?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 11, 2024</a>
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<p><strong><em>Read Also: <a href="https://captainaltcoin.com/solana-vs-sec-how-realistic-is-an-sol-spot-etf-approval/" target="_blank" rel="noopener noreferrer nofollow">Solana vs. SEC: How Realistic Is an SOL Spot ETF Approval?</a></em></strong></p>
<p>Based on a post by<a href="https://x.com/LunarCrush" target="_blank" rel="noopener noreferrer nofollow"> LunarCrush Social Intelligence</a> on X, AAVE’s social activity dominance share has increased by .4% across the entire crypto market earlier today, placing it as the 31st most popular cryptocurrency across social media.</p>
<p>This also means that people have been paying attention to crypto, which has also helped its value increase.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="the-price-rally-may-be-short-lived">The Price Rally May Be Short-Lived</h2>
<p>Although the price of AAVE has been bouncing off the strong support at $80, it has also been bouncing off a descending trendline, which has been a resistance.&nbsp;</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="484" src="https://captainaltcoin.com/wp-content/uploads/2024/07/image-427-1024x484.png" alt="" class="wp-image-525151" srcset="https://captainaltcoin.com/wp-content/uploads/2024/07/image-427-1024x484.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-427-300x142.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-427-768x363.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-427-1536x726.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-427-2048x968.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-427-317x150.png 317w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-427-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-427-740x350.png 740w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-427-788x372.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/07/image-427.png 1963w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The price has been bouncing off the resistance since March, and perhaps it could be a stronger resistance than the support.</p>
<p>The price will have to break above the trendline resistance to have a major rally. However, if the existing pattern continues, we may see a retest of the support again.&nbsp;</p>
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<p>The post <a href="https://captainaltcoin.com/heres-why-aave-price-pumped-30-this-week/" rel="noopener noreferrer nofollow">Here’s Why AAVE Price Pumped 30% This Week</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Here’s Why AAVE Price Pumped 30% This Week

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CaptainAltcoin

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