Aave price gives strong signal: analyst expects further rise

The Aave price is showing a notable move. Analyst Michaël van de Poppe notes that Aave is reclaiming a key support zone and expects the price to rise further in the coming period. According to him, this is not only good news for Aave itself, but also a strong signal for the broader market.

Aave is available at OKX and Bybit.

Reclaiming a crucial support zone

The weekly chart clearly shows that Aave made a sharp dip in recent weeks towards the $77 to $93 zone, a level that has served as support multiple times in the past. The price is now showing strength precisely at that level. Van de Poppe indicates that reclaiming this level as support is one of the most important conditions for further upward movement.

The chart also shows that the price is currently hovering just below the 21-week moving average. Once Aave breaks that level, Van de Poppe expects the path to open towards higher levels. The chart marks two resistance zones around $473 and $542 respectively, which serve as next targets in a continued rally.

Broader market also gives positive signals

Van de Poppe states that Aave is not the only asset currently recovering. Several coins are waking up at the same time, which he describes as a strong signal for the market as a whole. A coordinated move across multiple assets typically points to a broader rotation of capital towards risky assets.

Aave’s weekly candle is closing with a gain of over 25% at the time of writing, its strongest weekly performance in a long time. Whether the price maintains this momentum and manages to break the 21-week moving average will become clear in the coming weeks. Investors are closely watching the $93 zone as a new support level to defend.