Greed

Flow

bullish

Momentum

<ul class="wp-block-list">
 <li>AAVE became the top gainer, surging by over 29%.</li>
 <li>The altcoin’s trading volume has increased by 26%.</li>
</ul>
The crypto market flipped to a bullish trend as Bitcoin soared above $100K, with the Fear and Greed Index settling at 80, firmly in the extreme greed zone. Turning attention to the altcoins, the AAVE token has emerged as the top gainer, with a 24-hour jump of over 29.30%.
AAVE rally has <a href="https://thenewscrypto.com/trumps-world-liberty-financial-pumps-price-with-10m-crypto-buy/" target="_blank" rel="noopener noreferrer nofollow">coincided</a> with Donald Trump’s World Liberty Financial project spent over $12 million on buying three cryptocurrencies such as ETH, AAVE, and LINK. WorldLibertyFi has bought 3,357 AAVE at $297.8 each, by spending over 1 million USDC.&nbsp;
In addition, a decentralized exchange and automated portfolio management protocol, Balancer, has launched its v3 upgrade with Aave, as the primary launch <a href="https://thenewscrypto.com/balancer-v3-officially-launched-with-revolutionizing-features-and-aave-partnership/" target="_blank" rel="noopener noreferrer nofollow">partner</a>.&nbsp;&nbsp;
AAVE has broken through crucial resistances to hit the unforeseen high. In the early hours, the asset <a href="https://coinmarketcap.com/currencies/aave/" target="_blank" rel="noopener noreferrer nofollow">trades</a> at $275, eventually building momentum to visit its daily high of $359.98. At the time of writing, the altcoin trades at $356.64.&nbsp;&nbsp;
Furthermore, a $3.10 million liquidation of AAVE was observed in the market during this timeframe, as per <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a>. The asset’s daily trading volume has reached $1.58 billion.&nbsp;
On the other hand, an analyst <a href="https://x.com/JavonTM1/status/1867020212869964189" target="_blank" rel="noopener noreferrer nofollow">suggests</a> that AAVE is heading toward a target of $628.5, as it has surged above the $300 mark. This hints at the potential for the price to gain more than double, offering over 100% gains if it reaches the target.
<h3 class="wp-block-heading" id="h-where-is-aave-heading-next">Where is AAVE Heading Next?</h3>
Analyzing the four-hour price graph of AAVE reports the ongoing positive sentiment. If the asset surpasses the $370 mark, the next long-awaited target of the altcoin would be around $400. This could ignite a new price rally.&nbsp;
Conversely, if the current market sentiment turns bearish, AAVE might reverse its trend with its price rallying downward to the $340 range. Further diminished buying momentum signals the risk of a drop toward $300.&nbsp;
It should be emphasized that the technical indicators of AAVE exhibit the Moving Average Convergence Divergence (MACD) line over the signal line. This crossover is inferred as a buy signal with upside price action.&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXd8szz2FlfRtNcLHt0wDKP6f7L8-EBHzzTbrMz39V66gqFduqv2KsVDw8NF_OeiwGDEO7Eeizc6buIbx1XHZVBCrgVS5d84ErOlaN1lOPtH2dFgCzh3758hjP7yePMSD0syYAFt6w?key=5NNyb9UCeBpAMMlRVpzwtof2" alt="">
 <figcaption class="wp-element-caption">AAVE chart (Source: <a href="https://in.tradingview.com/symbols/AAVEUSDT/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Moreover, the Chaikin Money Flow (CMF) indicator is aligned at 0.26, suggesting a positive money flow. Also noting that the buying pressure is stronger than the selling pressure. Meanwhile, AAVE’s trading volume has likely increased by over 26.10%.
The 24-hour trading window of the altcoin <a href="https://in.tradingview.com/chart/AHwivr5C/?symbol=BINANCE%3AAAVEUSDT" target="_blank" rel="noopener noreferrer nofollow">displays</a> the short-term 9-day MA above the long-term 21-day MA at $305 and $284, respectively. Besides, AAVE’s daily relative strength index (RSI) has climbed to 75.44, reaching the overbought zone. It also increases the risk of a short-term price decline or consolidation.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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