AAVE Price Prediction: AAVE Bulls On Fire, Aims to Flip the $150 Resistance Level

AAVE price holds good fundamentals and is globally accepted. It's Backed by the multiple investments of backers like @Blockchain Capital, @ Blockchain.com Ventures, and a few more.

AAVE price showcased robust fundamentals and global acceptance with multiple backer investments. Its market cap surged from $1.20 Billion to $1.90 Billion.

According to Chainbroker, it attained an AA tier security score of 90.09, boasting strong governance strength and community trust.

Moreover, it had many globally recognized names following it on X, along with a strong presence on X and a Twitter score of 576.

Analyst Anticipations For AAVE Future Price

As per an analyst, the broader picture highlighted the potential end of the long accumulation phase.

$Aave will pump like $link in 2023 pic.twitter.com/uR5E1Scgwu

suggesting a parabolic move could follow, with targets of up to $500.

Derivatives Indicated Bullish Momentum

The recent price rally drove derivatives volume to $731.34 Million in 24 hours.

Meanwhile, open interest showed 49% more contracts opened for the current trend, amounting to $169.54 Million.

The long-short ratio indicated strong bullish momentum, with 24-hour shorts liquidated at $1.10 Million, compared to longs at $224.81K.

AAVE Price Chart Depicted Bullish Structure

Intraday, the AAVE token price pierced 14% higher in 24 hours. This surge helped it crack the upper border of the long-serving range at $115. At the time of writing, it was trading at $129.05.

The AAVE price thrust breached the dynamic hurdles of the 50-day and 200-day EMA bands. AAVE's past 7 days' gains鏽 of more than 36% from the $90 support and coinciding trendline support impressed investors.

In the broader picture, the 12-month congestion zone between $80 and $120 was broken, and sustained presence above it could extend gains.

In the bullish case, the short-term rise could lead toward the upper boundary. Recently, AAVE has interested traders and cruisers in the asset after the displayed momentum.

Hence, sustained presence above the range border could lead to capturing the $134.01 and $145.01 price targets.

On the contrary, failure to sustain above the range's upper border or dipping below $115 would invite the bears to eye for $108 and $98, respectively.

Meanwhile, the MACD formed a bullish cross above the zero line with a positive histogram at 2.51. The RSI was above the median line at 70.88, indicating an overbought entry, which could suppress gains.

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