Aave (AAVE) Catches Market's Attention After 11.78% Price Surge

Aave [AAVE] has caught the market's attention following an 11.78% price surge and the protocol's announcement of future growth strategies.

A massive 11.78% price surge in the past 24 hours has put Aave [AAVE] in the spotlight as the crypto market keeps rolling. According to CoinMarketCap data, AAVE was trading at $232 at the time of writing.

The coin experienced significant bullish momentum following its breakout and price consolidation above the $220 key resistance level. As such, it could be rallying towards the $258 key resistance level in the mid-term and targeting the $350 psychological level in the long run, according to WorldOfCharts' analysis on X.

AAVE price action and technical indicators

AAVE has been trading inside a descending wedge formation since the beginning of 2025. The coin tested its descending resistance trendline several times before finally breaking out and consolidating above the $220 key resistance level.

The coin's RSI (Relative Strength Index) stood at 49, showing room for more buying, at press time.

The short-term and long-term moving averages, the MACD, and momentum indicators flashed a 'buy' signal, which signaled the breakout and breakout.

On-chain signals indicate potential uptrend rally

According to IntotheBlocck data, Large holders control 80% of AAVE, with 56% of them in the money.

Since the majority of the whales are in profit, it could see further investor accumulation and buying pressure, leading to a bullish rally toward the $258 key level.

Aave's large transactions (over $100k) reached $903.66 million in the past week as the coin faced renewed interest among traders.

The daily transactions surged steadily alongside active addresses, showing growth in network activity.

Aave announced a $1 million weekly token buyback under its new 'Aavenomics' proposal, which would reduce AAVE's supply. This decrease in supply could position the coin for a bullish rally after its recent breakout.

The 24-hour long-short ratio increased from 1.4 to 1.5 in four hours, showing more traders buying AAVE. The coin's breakout also signaled a trend reversal after weeks of downtrend, which was boosted by governance updates and the protocol's announcement.

Large-scale investors are likely to purchase AAVE, aiming for long-term gains. Strong buying pressure could help the coin surpass the $258 resistance and target $300.

Monitoring whale and network activity near key levels can provide further insights into AAVE's price movements.