Aave (AAVE) is showing potential for a rebound as its strong technical indicators and increasing deposits indicate positive growth. The total value locked in the Aave network has reached a record high of 6.12 million ETH ($5.12 billion) and net deposits are also at a record high of $36 billion, surpassing last year's deposits of $10 billion. Aave has become the largest DeFi protocol with $35 billion in net deposits. The project is working on its V4 upgrade, which will enhance modularity and reduce governance overhead. A bullish sign for Aave is that tokens are leaving centralized exchanges. The coin has bullish technicals and is forming a bullish pennant chart pattern, suggesting a potential breakout and a target of $400. However, if the coin falls below its 50-day moving average, the bullish view would become invalid.



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