Aave

DeFi Altcoin Flashing Tier-One Setup and Could Ignite 56% Rally, According to Crypto Strategist

Published

2 months ago

January 16, 2025

A popular crypto strategist thinks an altcoin in the decentralized finance (DeFi) space looks strong against the US dollar and Bitcoin (BTC).

Pseudonymous analyst Bluntz tells his 308,500 followers on the social media platform X that DeFi lending platform Aave (AAVE) is flashing multiple bullish signs on the eight-hour chart.

“AAVE [is] one of my favorite looking alts here, clear ABC down on the eight-hour chart, clear five waves within the C wave AND a cracking eight-hour bullish divergence brewing.

T1 (tier-one) setup in my opinion.”

Bluntz follows the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave surge after completing an ABC correction. Based on the trader’s chart, he seems to suggest that AAVE has completed the ABC retracement with a bullish divergence to support his stance on a potential reversal.

A bullish divergence is typically viewed as a reversal signal as it indicates that an asset’s momentum is rising even though its price is dropping or trading sideways.

Bluntz seems to predict that AAVE will soar as high as $460 for the next leg up, a potential upside of about 56%.

Looking at AAVE/BTC, Bluntz says the pair is also flashing a similar setup, suggesting that the coin is gearing up to outperform Bitcoin.

“AAVE/BTC also looks identical, with a nice high time frame eight-hour bullish divergence.”

At time of writing, AAVE/BTC is trading for 0.003034 BTC worth $294.71.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Aave

AAVE Dominates DeFi Lending – Metrics Reveal 45% Market Share

Published

3 months ago

December 15, 2024

admin

Este artículo también está disponible en español.

Aave (AAVE), the leading decentralized finance (DeFi) lending protocol, has captured the spotlight with an extraordinary surge of over 200% since November 5. Outperforming the broader market, AAVE has reached its highest levels since 2021, marking a remarkable recovery and reaffirming its dominance in the DeFi ecosystem.

Key metrics from IntoTheBlock underscore AAVE’s unmatched position in the lending sector. With an impressive 45% market share, it remains the top choice for users seeking decentralized borrowing and lending solutions.

With AAVE trading at multi-year highs and on-chain data suggesting robust activity, the altcoin’s trajectory remains a focal point for investors and analysts alike. The question is whether the price can sustain this momentum and reach new all-time highs in the coming months.

AAVE Keeps Growing

Aave (AAVE) has shown consistent growth over the past year, solidifying its position as a market leader in the DeFi lending sector. Known for its innovative approach to creating non-custodial liquidity markets, Aave enables users to earn interest on supplied and borrowed assets at variable interest rates. This approach has made Aave a go-to protocol for decentralized borrowing and lending.

For years, Aave has been at the forefront of DeFi innovation, continually enhancing its platform and user experience. Its success is evident in its market dominance. Metrics from IntoTheBlock highlight Aave’s unrivaled leadership, boasting an impressive 45% market share in the DeFi lending space.

AAVE Dominance at 45% market share | Source: IntoTheBlock on X

This dominance is further emphasized by Aave’s staggering total value locked (TVL), which stands at $21.2 billion—almost equal to the combined TVL of all other lending protocols.

Such figures underline Aave’s critical role in the DeFi ecosystem. Its established presence and robust infrastructure position it as a key player in the event of a broader DeFi resurgence. Should the sector heat up in the coming weeks, Aave is likely to attract significant attention from investors and traders.

Price Targets Fresh Supply Levels

Aave (AAVE) is currently trading at $366, following a surge to a multi-year high of $396 just hours ago. The altcoin continues its upward momentum as it approaches the critical $420 resistance level, a threshold last held in September 2021. This mark is seen as a pivotal area for AAVE’s next phase of price action, with many analysts expecting a significant reaction once tested.

Price testing crucial supply | Source: AAVEUSDT chart on TradingView

If AAVE manages to hold its current levels and sustain the bullish momentum, the next logical target would be the $420 resistance zone. Breaking above this level could signal a continuation of its multi-month rally, setting the stage for even higher price targets as investor confidence builds.

On the downside, failure to maintain support above the $320–$340 range could lead to a broader correction. A move below this zone might push the price lower, erasing some of its recent gains and dampening bullish sentiment in the short term.

AAVE remains in a strong position for now, but traders are closely monitoring its price action near these key levels. Whether it can sustain its upward trajectory or faces a pullback will depend on its ability to break and hold above significant resistance zones.

Featured image from Dall-E, chart from TradingView

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