The post Mapping Aave’s 2024 growth: Is $200 the next target in 2025? appeared on BitcoinEthereumNews.com.

Aave broke out above the $161.21 level, and a successful retest of support positioned it for further upward momentum. Rising user engagement and stable liquidation levels indicated strong market sentiment and continued growth potential. Aave [AAVE] has shown extraordinary growth in 2024, tripling its loan volume to $10B and increasing its Total Value Locked (TVL) by 26.7% to $15.96B. Its revenue also skyrocketed by 1,628%, reaching an annualized total of $113.84M. Despite these impressive numbers, Aave now faces critical market challenges. The question remains: can it maintain this momentum, or will external factors slow its rise? Breaking resistance: Is Aave set to soar? At press time, Aave was trading at $176.27, reflecting a modest 0.56% increase in the last 24 hours. Recently, Aave broke through the key resistance at $161.21, which was a significant hurdle. After breaking this level, it successfully retested it as support, suggesting a solid foundation for further growth. If Aave holds above $176, the next resistance point is $183.75, with $200 as the next major target.  The MACD showed a positive crossover, supporting this bullish outlook. Furthermore, the RSI stood at 52.49, indicating that Aave had plenty of room to grow before reaching overbought conditions. Therefore, Aave is in a strong position to continue its upward trajectory. Source: TradingView Increasing exchange reserve: A warning sign? The exchange reserve has increased by 0.91%, bringing the total to 2.629M. This uptick pointed to a slight increase in selling pressure, as more tokens are being held on exchanges. However, the increase is not large enough to immediately disrupt Aave’s bullish trend. Consequently, this will be a metric to monitor in the coming days. If the trend continues, it could impact price action, but for now, it remains manageable. Source: CryptoQuant Active users and rising transactions Active addresses have increased…

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Filed under: News - @ November 27, 2024 2:28 am