Aaave Price Analysis: AAVE recorded huge growth with a price target of $100 Aave price analysis shows that AAVE, the native token of popular decentralized lending platform Aave, has been in a strong bullish trend lately. This is reflected in its impressive price growth, with AAVE's value increasing by more than 30% in just one week. The Aave price formed a higher high last week, rebounding from a low of $65 and trending upwards, hitting a new yearly high of $86.80. The price spike is largely attributed to the overall bullish sentiment in the cryptocurrency market and the positive development of the Aave ecosystem. Aave (AAVE), a well-known player in the DeFi space, recently entered into a strategic partnership with the Tokenized Asset Alliance. The partnership aims to facilitate the utilization of public blockchains and the tokenization of real-world assets. Although the partnership initially had a positive impact, increasing the price of Aave (AAVE) from $55.1 to $83 in just one month, the long-term impact remains uncertain. Currently, Aave (AAVE) is trading in a price range of $80 – $83. AAVE/USD Technical Analysis: Strong Bullish Outlook; Aave (AAVE) has had an impressive run over the past few days. The coin seems to be gaining a lot of support from traders, as evidenced by its strong uptrend. From a technical point of view, the AAVE/USD pair has formed a bullish channel and is well supported by the $70.1 10-day moving average. This indicates that buying pressures continue to dominate the market and prices are expected to rise further in the near term. The Relative Strength Index has grown exponentially over the past 24 hours, indicating that buyers have taken control of the market. The Fibretracement tool also shows that AAVE has broken through the key barrier of $84, which was a major resistance level in the past. This breakout opens the possibility of a further rise above $100. The MACD line has crossed the signal line, indicating a strong bullish momentum for AAVE. This is further supported by the MACD histogram, which continues to rise and shows no signs of losing momentum. A slight pullback near the 10-day MA at $70.1 is expected before AAVE resumes its bullish trend. However, the long-term outlook for Aave (AAVE) remains positive and is likely to continue its uptrend in the coming weeks. The price of AAVE is currently trading above the major moving averages with key support levels at $59.9 at the 50 EMA, $63.6 at the 100 EMA, and $49.5 at the 200 EMA. AAVE price analysis shows positive market sentiment for the token and its uptrend is expected to continue in the near term. With key hurdles broken down and strong technical indicators, Aave (AAVE) is likely to reach new all-time highs above $100 in the coming weeks. The key support levels to watch are $59.9, $63.6, and $49.5, while the psychological levels of resistance at $84, $90, and $100 could act as obstacles. (Source: Editah Patrick)