Aave Aave$ 289.01The native token of the largest decentralized financing (Defi) lending protocol, recovered strongly from last week’s lows that break through the most important resistance levels on Friday afternoon.
Token has won another 2% in the last 24 hours and has risen by 6% this week. It has drawn up support on the $ 284- $ 285 levels, while it currently consolidates around $ 290.
The move took place when the wider cryptomarket gathered, with a win across the board and bitcoin BTC$ 122,334,34 Break up $ 122,000 and get closer to the August record. The wider Defi market also accelerated and reached a $ 219 billion in assets in the protocols, a new record level, according to Defillama data.
Total value locked on Defi protocols on record highs. (Defillama)
Deposits on Aave also climbed to a record of $ 74 billion, so that the top position under Defi protocols was confirmed, according to Defillama data. The platform had a new inflow due to a recent partnership with emerging stablecoin-oriented chain plasma. The Plasma credit market on Aave Zwol in less than a week above $ 6 billion.
Technical analysis shows a strong momentum
Technical indicators indicate a potential, despite taking profit pressure in the short term at the current level, the Coiindesk Data Research model shows. Resistance levels, however, are set between $ 290- $ 294 after repeated rejections.
- Price profit 2.33% in session of 24 hours.
- Trade range comprises $ 15.17 between $ 279.16 and $ 294.33 extremes.
- Volume spikes to 143,188 units, well above 37,000 average.
- Support level confirmed at $ 284- $ 285.
- Resistance zone set between $ 290- $ 294.
- Intraday High reaches $ 290.37 before reversal.
- Consolidation pattern is developing at the current levels.
