The prize continued to rise on Saturday and reached the highest level since 6 March of this year when the exchange balance fell and the total value in his network fell.
Aave (Aave) rose to $ 221.91, with 95% of the lowest level on April 7, which brought market capitalization to more than $ 3.3 billion.
Coinglass data shows that investors continue to collect more Aave tokens, especially after Ethereum (ETH) has made a strong outbreak and has tested the most important resistance point for the first time since February $ 2,400.
Aave Balances at fairs fell to 4.76 million, a decrease of 4.87 million a week ago. This decline brought the total supply to scholarships at 29.74%. Falling Exchange Balance is a sign that holders do not sell, which is positive for a coin.
Aave -Prize also jumped when it strengthened his position as the largest player in the decentralized financial industry. Defi Lama Data shows that the total value in the last 30 days increased by 35% to $ 24.2 billion, making it much greater than Lido (LDO), which has $ 21.6 billion in assets.
This growth has made one of the most profitable players on the cryptomarket, as his year-to-date reimbursements skipped Up to $ 224 million.
Aave is a decentralized ‘bank’ platform with which users can earn interest with their vain assets. This interest comes from the credit activities, so that users can borrow at competing rates.
Aave Price Technical Analysis
The daily graph shows that a soil at $ 113.50 on April 7, returns to the highest level since 6 March. It has risen above the 50-day exponential advancing average and the crucial psychological point at $ 1,000.
The relative strength index has moved to the overbough level at 75, while the MACD indicator has exceeded the nulline.
This rebound happened after it had formed a falling wig pattern between December and April. That is why the currency will probably continue to rise because bulls focus on the most important resistance level at $ 400, the highest point in December.
Such a movement would indicate an increase of 83% of the current level. A drop under support for $ 170 will invalidate the bullish outlook.
