CandleFocus

AAVE Crypto Surges 10% As Investors Hold Strong: What Next?

Author: Content Editor
The AAVE cryptocurrency has experienced a notable correction in the past two weeks, but has since surged nearly 10% and sustained support at $117.8. Data suggests that investors are withdrawing AAVE from exchanges, indicating a shift from selling to holding strategies. AAVE has seen an increase in price while other cryptocurrencies struggle. The trading volume and open interest in AAVE derivatives have also surged, signaling increased investor interest and bullishness. Large holders make up 80% of the concentration, and the number of holders' addresses has increased. Financial and on-chain data suggest positive performance for AAVE, with over 70% gains driven by a breakout from a descending triangle pattern. The long-term outlook for AAVE is bullish, with possible targets at $153 and $160.42, and a potential gain of over 50% by the end of September.

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