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AAVE Price Eyes $200 as Whale Buying Sphere Hits Key Fibonacci Support

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5 hours ago

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AAVE price displays a modest downtick of 0.83% during Sunday’s low volatility trading. The pullback temporarily stalled the current recovery but allowed buyers to replenish the bullish momentum before the next leap. Amid the formation of a bullish reversal pattern, the recently recorded whale buying positions AAVE price for a sustained rally.

AAVE Price Targets $200 as Whale Buying Spree Aligns with Fibonacci Support

According to Lookonchain analytics, a crypto whale recently bought 31,173 AAVE tokens worth around $4.8 million and deposited them into Aave. Shortly after, the whale borrowed around 2.7M GHO stablecoin from the Aave protocol and swapped them for USDC.

These stablecoins were deposited into the Coinbase exchange to acquire more AAVE, projecting a bullish outlook for this smart money. The use of GHO, a stablecoin associated with Aave, further showcases confidence in the Aave ecosystem.

The supply distribution metric from Santiment indicates that large holders with wallet sizes between 1 million to 10 million AAVE initiated a buying spree in August. This accumulation has now reached 4.17 million AAVE, highlighting strong whale activity. 

This trend suggests increasing confidence among large investors in AAVE’s price potential, possibly hinting at further upside momentum in the market.

Aave [on Ethereum]Aave [on Ethereum]
AAVE Supply Distribution | Santiment

AAVE Hint Major Reversal Pattern Breakout

Following the early October sell-off, the AAVE price managed to stabilize above $135 support since last week. This support is reinforced by both the 50-day exponential moving average and the 38.2% Fibonacci retracement level, providing a solid foundation for a potential price reversal.

The 38.2% FIB is typically seen as an ideal pullback zone for buyers to regain control after a period of exhausted bullish momentum. The recent reversal has uplifted asset 12% up to trade at $152.5 and formed a bullish reversal pattern called a double bottom.

The chart setup resembles a ‘W’ letter and indicates a renewed bullish momentum for a breakout opportunity. If the pattern holds true, the AAVE price rally could breach the $154.8 neckline and drive a post-breakout rally to $180, followed by $200.

AAVE Price AAVE Price
AAVE/USDT – 1d Chart

Alternatively, if the AAVE buyers fail to sustain a neckline breakout, the sellers could revert the price lower and seek support at the $115 level.

Frequently Asked Questions (FAQs)

Recent whale buying has significantly boosted confidence in AAVE, with large holders accumulating 4.17 million AAVE. This activity, aligned with key Fibonacci support, is pushing the price toward the $200 target.

The 38.2% Fibonacci retracement level has provided a key pullback zone, allowing buyers to regain control and pushing AAVE’s price recovery

AAVE has formed a double bottom pattern on the daily chart, which suggests a bullish reversal

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Aave

AAVE Price Eyes $200 Push as Buyers Conclude Two-Year Accumulation

Published

3 weeks ago

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September 22, 2024

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The AAVE price surged 3% during the Sunday training session, defying the low volatility momentum in the broader crypto market. This high-momentum rally pushed the asset to a peak of $162.5, a level not seen since May 2022. This movement indicates a significant breakout from the two-year accumulation phase, signaling the potential rally to $200.

AAVE Price Gears Up for $200 Surge After Two Years of Accumulation

Defying the ongoing consolidation trend in crypto markets, the AAVE price showcased a sustained recovery since July 2024 with new higher-high and higher-low formations in the daily chart. The bullish upswing uplifted the asset from $71 to $158, registering a growth of 123%. Consecutively, the market cap surged to $2.364 billion.

With an intraday gain of 5%, the AAVE price surged to $162.46 high, a level last recorded on May 5th, 2022. This upswing signals the end of a two-year accumulation trend, also highlighted by the founder of DefianceCapital, Arthur. According to his tweet, this breakout could signal a potential all-time high (ATH) reclaim, marking a significant moment in the ongoing DeFi resurgence. 

If the daily candle closes above $153, the buyers could drive a 25% upswing to challenge the $200 resistance, followed by an extended rally to $260.

A positive alignment between the daily Exponential moving average (20, 50, 100, and 200) indicates a high momentum in action. 

AAVE PriceAAVE Price
AAVE/USDT -1d Chart

According to Santiment data, the percentage of AAVE held by top addresses has steadily climbed to 55%. While a high value may signal centralization risk, it also indicates an accumulation trend among large holders and their confidence in future trends.

Moreover, the relatively low supply of AAVE on exchanges suggests reduced selling pressure, which is often a bullish signal, as fewer tokens are available for immediate sale.

AAVEAAVE
Santiment

On the contrary, if the AAVE price fails to sustain the $153 resistance breakout, the sellers could drive a bearish pullback to 20-or-50-day EMA.

Frequently Asked Questions (FAQs)

Yes, AAVE has broken out of a two-year accumulation phase, reaching a high of $162.5. If the price sustains above the key $153 resistance level, a potential 25% rally toward $200 is likely.

The postive alignment of the 20-50-100-and-200-day Exponential Moving Averages (EMAs) indicates strong bullish momentum

If AAVE price fails to sustain the $153 breakout, sellers could trigger a bearish pullback

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Quickswap (QUICK) Surges as Ethereum DEXs Like Aave Aim for Much Higher in the Coming Weeks

Published

1 month ago

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September 8, 2024

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The Bitcoin and altcoin market is experiencing a downturn, with increasing selling pressure. Bitcoin, the leading crypto, has been balancing within the $56,000 mark, and many altcoins are seeing similar losses. But, interestingly, some tokens are defying the trend and moving in the opposite direction.

Quickswap (QUICK) has recently defied market anticipations, experiencing a 7-day soar of over 19.21%. This Ethereum DEX has been gaining traction and is now one of the top performers in the market.

With these compelling developments, Aave and other Ethereum DEXs are poised for probable growth in the coming weeks, driven by improved ecosystem offerings and enhanced protocols.

DeFi Craze Continues to Drive Quickswap’s Growth

Quickswap’s growth comes from the DeFi boom in the market, where users seek higher yields and lower fees. 

As the backbone of the DragonFi ecosystem, Quickswap has led the adoption of a new Chain Development Kit (CDK). It provides fast liquidity, farming, and asset staking with minimal gas fees.

The platform’s new trading feature and Binance listing have boosted its market presence, with the QUICK token soaring from $38.21 to a peak of $46.13. Despite market downturns, QUICK remains strong at $43.72, with trading volume up by 238%, showcasing robust investor and trader interest.

Aave’s Ambitious Roadmap: What Lies Ahead

Despite the current market turmoil, Aave is capturing investor interest with a fresh approach to market dynamics. Its price has surged 23.94% this past month, highlighting its potential. To maintain this momentum, Aave’s ambitious roadmap includes increased borrowing capacity and better protocol integrations.

These changes aim to enhance accessibility for Ethereum DEXs and user-friendliness for new and seasoned traders. As Aave evolves, its strategies could influence broader market dynamics, potentially impacting other DEXs like RCO Finance.

RCO Finance (RCOF) Riding the Ethereum DEXs Wave

RCO Finance is carving out a niche in the densely populated Ethereum DEX sector, driven by innovative features and a commitment to user empowerment.

Core to RCO Finance’s appeal is the introduction of a groundbreaking AI-powered Robo Advisor that will revolutionize one’s experience in DeFi investment through personalized financial insights and strategies.

Unlike human, financial advisors, the innovative tool processes large flows of market data in real time and makes customized recommendations according to one’s risk profiles and investment objectives. This allows new and professional traders to source their crypto market involvement more confidently and precisely.

Furthermore, RCO Finance stands out by enabling users to diversify their portfolios across various asset classes beyond cryptocurrencies. By investing in derivatives, bonds, commodities, and even foreign exchange (FX), RCOF users can access approximately 150,000 additional asset classes.

Security is another cornerstone of RCO Finance’s platform. This Ethereum DEX has eliminated the need for Know Your Customer (KYC) procedures, ensuring user anonymity while maintaining compliance with regulatory standards. 

Additionally, RCO Finance has a brokerage crypto license, further solidifying its commitment to regulatory compliance and user trust.

RCO Finance integrates seamlessly with Fireblocks for asset management, protecting user information and funds. Rigorous security measures, including smart contracts audited by reputable firms like SolidProof, assure the RCOF tokens’ integrity and clarity.

Is RCOF Really Worth the Investment?

The RCOF Ethereum DEX is a comprehensive platform that allows investors to trade and generate passive income through staking, yield farming, DeFi lending, and earning dividends, all powered by crypto AI technology. 

Investors can autonomously expand their portfolios with the DEX’s high leverage of up to 1000x and its automated market-making feature.

Emphasizing decentralization, RCOF token holders enjoy voting rights, giving them a voice in future platform developments and decisions.

This decentralized approach fosters a sense of community ownership, aligning users’ interests with the platform’s growth and evolution. Furthermore, a tier-based rewards system encourages active participation, offering benefits such as reduced transaction fees and exclusive perks for token holders.

RCO Finance rides the wave of interest in Ethereum DEXs and is strategically positioned to engage with the DeFi sector’s expansion. The RCOF token presale has attracted significant attention, raising over $1.8 million, with potential returns projected at up to 3,000% for early investors.

With aspirations to mirror the success of platforms like Quickswap (QUICK) and Aave during the upcoming altcoin season, RCO Finance presents an intriguing opportunity for those looking to diversify their portfolios and engage with the dynamic world of Ethereum DEXs.

For more information about the RCO Finance (RCOF) Presale:

Visit RCO Finance Presale

Join The RCO Finance Community

The post Quickswap (QUICK) Surges as Ethereum DEXs Like Aave Aim for Much Higher in the Coming Weeks first appeared on BTC Wires.



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AAVE jumps 11% fueled by heightened whale activity

Published

1 month ago

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September 5, 2024

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AAVE, the native token of the decentralized lending platform Aave, has recently attracted attention from whales as its price surged by over 11% on Sep. 5.

At the time of writing, Aave (AAVE) had climbed to become the 42nd largest cryptocurrency, up from its 47th position on August 20. The token’s market capitalization exceeded $1.98 billion, marking a more than 4% increase in the past 24 hours.

According to price data from crypto.news, AAVE was trading at $132.95, rising from its weekly low of $116.13 reached just the day before. The token has seen a significant 60% increase over the last 30 days. Despite this recent rally, AAVE remains 80% below its all-time high of $661.69, achieved in May 2021.

The latest surge in AAVE has been largely driven by a major jump in whale activity. On Sep. 5, Lookonchain reported that two whales acquired around $2.2 million worth of AAVE within a span of less than three hours.

Moreover, the previous day, another whale purchased a substantial 50,604 AAVE tokens, valued at approximately $6.78 million, with an average price of $134.60 per token. This brought their total holdings to 125,605 AAVE tokens, valued at about $16.9 million at current prices.

AAVE has increasingly gained traction among whales in August, likely due to its solid fundamentals. Data from DeFiLlama shows that Aave holds over $11 billion in assets and has generated more than $281.39 million in fees this year.

Moreover, data from IntoTheBlock reveals that whales controlling over 1% of Aave’s circulating supply now hold 59.17% of the total supply. The high concentration of large holders suggests that AAVE’s price is being influenced by whale activity.

AAVE jumps 11% fueled by heightened whale activity - 1
AAVE concentration chart | Source: IntoTheBlock

Additionally, there has been a sharp increase in both the inflows and outflows of AAVE among large holders, with inflows rising by 326% and outflows by 353% over the last week. However, the net flow of AAVE among large holders surged by 61% in the same period, indicating strong buying interest that has helped drive the upward momentum in AAVE’s price.

The recent price surge in AAVE also comes after Donald Trump announced his DeFi initiative, World Liberty Financial. This project plans to develop a decentralized financial system using Aave’s non-custodial lending platform and Ethereum’s infrastructure.

Gabriel Shapiro, a legal adviser for the initiative, explained that it will function as a “lightweight non-custodial feeder” into Aave, enabling users to make deposits without the need for creating a fork. The venture aims to introduce Trump supporters to DeFi, which has bolstered confidence in Aave’s potential for mainstream adoption and spurred speculative buying.

Major liquidation levels

Currently, key liquidation levels are around $130.2 on the lower end and $139.8 on the upper end, with intraday traders highly leveraged at these points, according to on-chain analytics firm Coinglass.

AAVE jumps 11% fueled by heightened whale activity - 2
Source: CoinGlass

If market sentiment shifts and AAVE’s price drops to $130, nearly $1.78 million in long positions could be liquidated. On the other hand, if sentiment improves and the price climbs to $139.8, about $5.04 million in short positions may face liquidation.

At press time, data indicated that bears were in control, with the potential to trigger liquidations of long positions at lower levels.



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