🚀 Aave’s Recent Surge
Aave (AAVE) climbed from a local low of $153 to $184, marking a 3.79% daily increase. It has gained 8.25% weekly and 24.52% monthly but remains 72.89% below its all-time high (ATH) of $666. The question remains: is this recovery sustainable?
📈 Technical Indicators Signal Bullishness
Aave shows strong upward momentum, confirmed by a bullish Stoch RSI crossover at 41, indicating buyer dominance. The RSI at 58 also flipped above its MA, confirming the uptrend. DMI further highlights strength, with +DMI at 23, above -DMI, reflecting sustained bullish momentum.
💼 Investor Optimism Grows
Outflows from exchanges reached a weekly high of 47.95K, as investors moved tokens to private wallets, signaling confidence. A declining supply-exchange ratio also hit a monthly low, showing fewer tokens held on exchanges.
📊 On-Chain Activity Supports Growth
Aave’s active addresses rose to a 2-week high of 2.6K, indicating increased demand and adoption. These strong on-chain fundamentals suggest this price rally is driven by real activity rather than speculation.
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