AAVE breaks past $150: Can it rally another 75% next?


  • Aave broke previous the $150 value to make a brand new yearly excessive.
  • True retail longs and Open Curiosity had been shifting up as nicely.

Aave [AAVE] has just lately damaged by the $150 value degree, marking a brand new cycle and yearly excessive.

Analysts imagine that if Aave holds above the $154 value degree, it might speed up and probably attain $260, representing a 75% achieve from its present value as at press time.

Whereas Aave briefly rejected the $154 degree, that is typical at key resistance factors. The power in Aave’s value motion prompt that this was a pause earlier than additional upward motion.

The MACD indicator, which had been bearish since August, has now flipped bullish, indicating a possible rally. Aave began September sturdy, printing a recent excessive for 2024.

Supply: TradingView

True retail longs accounts proportion

AAVE’s efficiency stands out, particularly when in comparison with the retail longs accounts proportion for BTC/USDT and AAVE/USDT, as proven by Hyblock Capital.

Solely 22% of retail accounts had been in lengthy positions at press time, whereas Open Curiosity noticed rising progress.

This ratio, which mirrors a earlier value drop earlier than a rally, indicated that lengthy merchants had been gaining management over quick merchants. The development prompt that AAVE could also be gearing up for one more value surge.

Supply: Hyblock Capital

Open Curiosity on the transfer

Additional evaluation utilizing Coinglass revealed regular progress in Aave’s Open Curiosity, significantly this September.

As of the most recent information, with AAVE priced at $149.26, its Open Curiosity had reached $204.58 million. This can be a optimistic indicator, supporting the probability of a value surge within the close to future.

Supply: Coinglass

Aave’s GHO progress is robust

Aave’s native decentralized stablecoin, GHO, was additionally experiencing sturdy progress. As of press time, GHO’s provide elevated to 135 million tokens, with a market cap of $135 million.

The entire variety of holders reached an all-time excessive as nicely, with 2.4K customers. Round 76% of GHO’s provide, or roughly 103 million tokens, was staked by 1.59K stakers.

GHO remained tightly pegged to the USD, with no important value deviations, indicating sturdy stability.

Supply: X

Lastly, Aave’s founder has hinted at increasing GHO’s deployment to different blockchains. At the moment, Aave V3 is reside on a number of networks, together with Ethereum [ETH], Arbitrum [ARB], Base, Avalanche [AVAX], Polygon [MATIC], and Optimism [OP].

Nevertheless, GHO is just deployed on ETH and ARB, leaving room for additional growth throughout different networks, as Stani Kulechov’s publish on X learn,

“This leaves important room for GHO to develop throughout further networks.”

This potential growth might drive additional progress in each Aave and GHO, offering further assist for the next value.


Learn Aave’s [AAVE] Price Prediction 2024–2025


Total, Aave’s value outlook stays optimistic. With rising Open Curiosity, bullish technical indicators, and rising adoption of the GHO stablecoin, it may very well be set to maneuver larger.

If market circumstances stay favorable, AAVE may see important features within the coming months.



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