AAVEs Bullish Momentum: Can It Reach $1,700 in the Coming Months?
- AAVE targets $430, $1,050, and potentially $1,700 as its bullish momentum strengthens in the coming months.
- After reclaiming $284 support, AAVE eyes new resistance levels, including $430, $536, and $666.
- Strong growth in token hints at a broader market rally, with expectations of continued bullish momentum.
AAVE is approaching a bull run, with analysts suggesting that the price targets will be impressive in the next few months. In his recent post on X, Alan Santana disclosed the price expectations for token and how it will experience volatility. The following major level for AAVE is $430 and higher levels at $1,050 and $1,700 may be achieved based on the bullish trend.
The cryptocurrency has been rising since the beginning of June 2023 and the trend resumed in August 2024. The price of the token has risen gradually from that level, reflecting a strong positive trend. This surge is not only good for the holders, but it also points towards increasing market strength as per the experts.
AAVE Bullish Momentum
The token also retook the $284 level that has now transitioned into support. With this level in place, analysts are now turning their attention to the next big level on the route to $430. After breaking through this resistance level, further price increase is expected for AAVE. The intermediate goals for AAVE when it breaks through $430 are $536 and $666. These are the subsequent barriers that token has to overcome if it is to reach even greater values.
In the long term, token might even if reach $1,050, it still may have plenty of potentials. This phase however, is far from over with analysts pointing to a possible $1,700 in the near future which is still attainable. This forecast is in congrance with the growing sentiment that cryptocurrency will continue to climb higher. At the time of writing, token is trading at $360, which is 31.4% higher than its value a day before.
AAVEs DeFi Stability
The latest coin performance has proved its reliability in the DeFi space, and the further growth of the project will be important for traders and investors. This has made the larger market to also be expected to continue the upward trend and this is what has been witnessed with token. In the future, when AAVE increases more in value, other cryptocurrencies will also increase in value in the bull market.
Since the price of AAVE is still increasing while the previous resistance levels act as support levels, the token is still doing fine. The majority of traders are now neutral and are waiting for the further direction, with many people considering that cryptocurrency will continue growing and reach even higher levels.
Read more: https://www.tronweekly.com/aaves-bullish-momentum-can-it-reach-1700/
Text source: TronWeekly
