Aave (AAVE) has shown promising signs of a bullish breakout, with its price recently climbing from $118 to around $137.70. Analysts believe AAVE is poised to surge toward the $180–$200 range in the coming days, driven by a bullish pennant pattern emerging on the price charts. This pattern, coupled with growing user activity and increasing trading volume, indicates robust market momentum.
Technical Indicators and Key Support Levels
AAVE has broken through key resistance levels at $130, and the Relative Strength Index (RSI) shows bullish divergence, signaling a potential continuation of the upward trend. Additionally, the 50 and 200-day Exponential Moving Averages (EMA) are forming a crucial boundary, with the price currently consolidating between them. A breakout above these levels could propel AAVE higher(The Currency analytics)(Crypto News Flash).
Price Projections
Analysts suggest that AAVE could test resistance at $155, $183, and ultimately $200, supported by the Fibonacci retracement levels. However, caution is advised, as any failure to maintain its support at $118 could see the price fall back toward $100(KryptoCasinos)(The Currency analytics).
With the broader DeFi market recovering and Aave continuing to expand its user base, September is shaping up to be a critical month for the token. Investors are closely watching for signs of a sustained breakout, making AAVE one of the most-watched DeFi assets this month.
