Aave (AAVE) token is currently trading at 168.67 USD, recording a daily increase of 1.06%

The AAVE token is currently trading at 168.67 USD, recording a daily increase of 1.06%. Despite a drop in trading volume over the last 24 hours, investor sentiment remains optimistic: 84% of the community declares themselves bullish.

The AAVE token is currently changing hands at 168.67 USD, showing a 1.06% increase over the last 24 hours. Despite a slight decrease in trading volume, investor sentiment remains bullish, with 84% of the community voting bullish on the protocol.

Recently, Aave has come into the limelight for both its technical performance and its role in decentralized finance.

Key Points on Aave

Aave: a key protocol for DeFi

Aave is one of the fundamental protocols in decentralized finance (DeFi) thanks to its lending system without intermediaries, based on smart contracts. The protocol stands out for its high Total Value Locked (TVL), currently over $19.8 billion, placing it among the top protocols in the sector.

Among the strengths:

Technical analysis: key levels and recent dynamics

The chart shows a positive move, with a recovery from a low of 163 USD and a recent high at 179.39 USD. Now the price is in consolidation above 168 USD, close to the 7-day moving average.

Levels to monitor:

Bullish forecast: breakout of 180 USD?

If the price were to pierce 172 USD with good volumes, AAVE could aim for 180 USD, with possible extensions towards 185–190 USD.

What favors a bull scenario:

Bearish forecast: return towards 160 USD?

In the case of a loss of the key support at 165 USD, the price could return to the 160–157 USD zone, an area already tested in mid-April.

What could cause a bear market:

Aave is in an interesting technical phase: after a rally that saw it test 179 USD, the price is consolidating, awaiting a new breakout signal. The fundamentals remain strong, with a TVL among the highest in the sector and a roadmap focused on further innovating DeFi.