The total borrowed funds on the AAVE protocol are approaching an all-time high, indicating increasing demand and adoption of the network. The rise in borrowing activity has also led to a surge in the price of AAVE, suggesting growing confidence in the platform. The price of AAVE has experienced some volatility, with fluctuations in the total borrowed amount coinciding with shifts in price. Despite temporary downturns, AAVE's price has regained upward momentum and reached new heights by the end of January. Analysts suggest that AAVE is in an accumulation phase, with smart money positioning for potential gains. The price of AAVE has been moving within key support and resistance zones, with $291 acting as a strong support level and $378 and $491 acting as barriers. As February begins, AAVE's price is testing support and resistance levels, and investors are closely watching for a potential breakout.



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