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- AAVE shows bullish signs with EMA55 and EMA89 crossover and trading above MA200 on the weekly chart.
- Potential 800% growth projected from AAVE’s current price to a new all-time high, driven by strong market trends.
In his most recent analysis, Popular TradingView analyst Alan Santana underlined in great detail that the long period of consolidation and modest expansion for Aave (AAVE) is at last ending.
Santana claims the market is set for a huge breakout and the bulls are under control. “Think of Cardano, Dogecoin, and XRP,” Santana said, referencing other well-known altcoins with somewhat remarkable increases.
Key Bullish Signals and Projected Growth for Aave
Santana underlined in his analysis various important evidence confirming Aave’s bullish direction. First on the weekly chart, AAVE/USDT is trading above the MA200, which is a vital sign of long-term optimistic momentum.
A bullish cross has also developed between EMA55 and EMA89, therefore reinforcing the bull trend. Most famously, in early November, Aave hit its highest price since April 2022—a figure not seen in more than two years.
From its present price to a new all-time high (ATH), Santana estimates Ave might see an 800% total rise. From its low in April 2023, the expected increase surpasses 2,200%. This positive view has generated enthusiasm among investors and traders equally. “We are ready, the market and the altcoins are ready!” Santana answered.
Meanwhile, the token is swapped hands at about $176.90 at the time of writing; over the last 24 hours, it has increased by 4.30% and over the last 30 days by 16.97%. Notably, on-chain activity supports this increasing momentum.
Following 1.5 years of token ownership, a dormant whale switched 25,790 AAVE to MEXC earlier this month, according to a report by CNF. Between April and June 2023, the whale first bought 27,263 AAVE tokens at an average price of $77.75 per token, therefore investing $2.12 million.
On the other hand, as we previously noted, Aave Labs keeps pushing adoption with its creative Sky Ave Force idea, which seeks to combine USDS and increase ties between traditional finance (TradFi) and decentralized money. The project has resulted in Ave’s on-chain activity tripling.