Aave (AAVE) is lighting up the crypto radar, skyrocketing 7.74% in just 24 hours to hit $119.51. This isn't a one-off—it's been on a week-long bender, catapulting 22% from $93.66.
Look at the charts to better understand this Ethereum DeFi token's recent price action. In a day and a week, it's all over the place with the Bollinger Bands, which measure volatility for both daily and weekly price movements very wide.
Here's what else the charts are saying for Aave.
Technical Analysis for Aave
Aave's trading volume shot up 19% this week, mirroring a slight 0.08% bump in its circulating supply, now at 14.91 million.
The daily chart also tells the tale—on August 17, Aave made a run at $118 but got swatted back by bearish resistance.
The 20-day EMA at $103 and a bullish RSI say Aave is oversold despite having this runup show that bulls are in control of the price right now.
If they push past $118, Aave's eyeing $134. But a slip below $103 could mean bouncing between $90 and $118.
Bitcoin's recent price action has significantly influenced various altcoins, including Aave, while buyers successfully defended the $55,724 support level for BTC.
In recent months, heavy hitters in finance have been diving into Bitcoin ETFs. Since March, Goldman Sachs has bought up $419 million through the BTC ETFs, Capula Management $470 million, and Avenir Tech $388 million. According to Coinbase, investment advisers upped their ETF game by 3% in Q2 2024.
BTC always moves the crypto markets so keep an eye on it if you expect an Aave surge.
Aave is Great, And So is This New Altcoin Crypto All-Stars
While Aave is a pioneer in decentralized finance, a new presale called Crypto All-Stars is trailblazing in the meme markets.
In its first week, Crypto All-Stars ($STARS) pulled in over $530,000, igniting the meme coin market.
Offering passive income via unified staking, $STARS lets Dogecoin and Pepe holders stake together and earn $STARS.
Holding $STARS unlocks triple rewards, promising unmatched returns. With a price jump from $0.00138 to $0.0013911 and another spike imminent, investors are all in on this Q3 token.
