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Shiba Inu Shiba Inu (SHIB) $0.00 ↑ 0.08%
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Dai Dai (DAI) $1.00 ↓ -0.02%
Pepe Pepe (PEPE) $0.00 ↓ -0.12%
Cronos Cronos (CRO) $0.14 ↑ 4.45%
Aave Aave (AAVE) $298.55 ↑ 0.19%
Bittensor Bittensor (TAO) $426.73 ↓ -0.37%
Ethena Ethena (ENA) $0.61 ↑ 2.27%
NEAR Protocol NEAR Protocol (NEAR) $2.92 ↑ 1.88%
Ethereum Classic Ethereum Classic (ETC) $22.95 ↓ -0.42%
Pi Pi (PI) $0.44 ↑ 0.43%
Ondo Ondo (ONDO) $1.05 ↑ 0.10%
Aptos Aptos (APT) $4.83 ↑ 0.94%
Internet Computer Internet Computer (ICP) $5.73 ↑ 1.28%
OKB OKB (OKB) $48.14 ↑ 0.03%
Bonk Bonk (BONK) $0.00 ↓ -2.11%
Mantle Mantle (MNT) $0.82 ↑ 4.60%
Kaspa Kaspa (KAS) $0.10 ↑ 2.42%
Pudgy Penguins Pudgy Penguins (PENGU) $0.04 ↓ -1.67%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.24 ↑ 1.84%
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Worldcoin Worldcoin (WLD) $1.18 ↑ 1.45%
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Sky Sky (SKY) $0.10 ↑ 1.25%
Sei Sei (SEI) $0.34 ↑ 2.54%
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SPX6900 SPX6900 (SPX) $2.02 ↓ -0.28%
Filecoin Filecoin (FIL) $2.71 ↑ 1.90%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.74 ↑ 0.33%
Jupiter Jupiter (JUP) $0.58 ↑ 4.43%
Flare Flare (FLR) $0.02 ↑ 4.38%
Story Story (IP) $5.47 ↓ -0.56%
Quant Quant (QNT) $127.17 ↑ 5.11%
Injective Injective (INJ) $15.30 ↑ 6.30%
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FLOKI FLOKI (FLOKI) $0.00 ↑ 0.56%
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Immutable Immutable (IMX) $0.59 ↑ 2.98%
dogwifhat dogwifhat (WIF) $1.10 ↑ 1.15%
The Graph The Graph (GRT) $0.11 ↑ 1.63%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.60 ↑ 0.14%
Kaia Kaia (KAIA) $0.17 ↑ 1.61%
Lido DAO Lido DAO (LDO) $1.11 ↑ 1.51%
Pump.fun Pump.fun (PUMP) $0.00 ↑ 7.61%
PancakeSwap PancakeSwap (CAKE) $2.80 ↑ 1.28%
Sonic Sonic (S) $0.34 ↑ 0.17%
Conflux Conflux (CFX) $0.19 ↑ 3.17%
PAX Gold PAX Gold (PAXG) $3,357.01 ↑ 0.04%
Tezos Tezos (XTZ) $0.89 ↑ 0.04%
Vaulta Vaulta (A) $0.58 ↑ 0.53%
Theta Network Theta Network (THETA) $0.91 ↑ 2.55%
PayPal USD PayPal USD (PYUSD) $1.00 ↓ 0.00%
JasmyCoin JasmyCoin (JASMY) $0.02 ↑ 0.99%
IOTA IOTA (IOTA) $0.22 ↑ 4.18%
Nexo Nexo (NEXO) $1.31 ↑ 0.37%
Raydium Raydium (RAY) $3.09 ↓ -0.85%
Tether Gold Tether Gold (XAUt) $3,348.08 ↑ 0.02%
The Sandbox The Sandbox (SAND) $0.32 ↑ 3.60%
Gala Gala (GALA) $0.02 ↑ 1.91%
Aerodrome Finance Aerodrome Finance (AERO) $0.90 ↓ -0.45%
Pyth Network Pyth Network (PYTH) $0.13 ↑ 1.45%
Pendle Pendle (PENDLE) $4.43 ↓ -1.27%
Jito Jito (JTO) $2.02 ↑ 1.83%
Bitcoin Bitcoin (BTC) $118,276.94 ↑ 0.22%
Ethereum Ethereum (ETH) $3,820.17 ↑ 1.57%
XRP XRP (XRP) $3.21 ↑ 0.17%
Tether USDt Tether USDt (USDT) $1.00 ↓ 0.00%
BNB BNB (BNB) $798.38 ↑ 1.94%
Solana Solana (SOL) $188.09 ↓ -0.17%
USDC USDC (USDC) $1.00 ↑ 0.00%
Dogecoin Dogecoin (DOGE) $0.24 ↓ -0.01%
TRON TRON (TRX) $0.32 ↑ 1.53%
Cardano Cardano (ADA) $0.83 ↑ 0.54%
Sui Sui (SUI) $4.22 ↑ 4.77%
Hyperliquid Hyperliquid (HYPE) $43.16 ↓ -3.40%
Stellar Stellar (XLM) $0.44 ↓ -0.20%
Chainlink Chainlink (LINK) $18.97 ↑ 3.15%
Hedera Hedera (HBAR) $0.29 ↑ 6.59%
Bitcoin Cash Bitcoin Cash (BCH) $590.54 ↑ 6.30%
Avalanche Avalanche (AVAX) $25.11 ↑ 3.25%
Litecoin Litecoin (LTC) $113.55 ↓ -0.31%
Shiba Inu Shiba Inu (SHIB) $0.00 ↑ 0.08%
UNUS SED LEO UNUS SED LEO (LEO) $8.98 ↓ -0.06%
Toncoin Toncoin (TON) $3.30 ↓ -0.23%
Ethena USDe Ethena USDe (USDe) $1.00 ↑ 0.05%
Uniswap Uniswap (UNI) $10.71 ↑ 1.69%
Polkadot Polkadot (DOT) $4.18 ↑ 1.99%
Monero Monero (XMR) $325.29 ↑ 0.45%
Bitget Token Bitget Token (BGB) $4.60 ↑ 0.76%
Dai Dai (DAI) $1.00 ↓ -0.02%
Pepe Pepe (PEPE) $0.00 ↓ -0.12%
Cronos Cronos (CRO) $0.14 ↑ 4.45%
Aave Aave (AAVE) $298.55 ↑ 0.19%
Bittensor Bittensor (TAO) $426.73 ↓ -0.37%
Ethena Ethena (ENA) $0.61 ↑ 2.27%
NEAR Protocol NEAR Protocol (NEAR) $2.92 ↑ 1.88%
Ethereum Classic Ethereum Classic (ETC) $22.95 ↓ -0.42%
Pi Pi (PI) $0.44 ↑ 0.43%
Ondo Ondo (ONDO) $1.05 ↑ 0.10%
Aptos Aptos (APT) $4.83 ↑ 0.94%
Internet Computer Internet Computer (ICP) $5.73 ↑ 1.28%
OKB OKB (OKB) $48.14 ↑ 0.03%
Bonk Bonk (BONK) $0.00 ↓ -2.11%
Mantle Mantle (MNT) $0.82 ↑ 4.60%
Kaspa Kaspa (KAS) $0.10 ↑ 2.42%
Pudgy Penguins Pudgy Penguins (PENGU) $0.04 ↓ -1.67%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.24 ↑ 1.84%
Algorand Algorand (ALGO) $0.28 ↑ 3.87%
Arbitrum Arbitrum (ARB) $0.46 ↑ 1.84%
VeChain VeChain (VET) $0.03 ↑ 0.85%
Render Render (RENDER) $4.29 ↑ 0.71%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↓ -0.03%
GateToken GateToken (GT) $17.86 ↑ 0.28%
Worldcoin Worldcoin (WLD) $1.18 ↑ 1.45%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $10.19 ↑ 0.72%
Sky Sky (SKY) $0.10 ↑ 1.25%
Sei Sei (SEI) $0.34 ↑ 2.54%
Cosmos Cosmos (ATOM) $4.81 ↑ 1.57%
SPX6900 SPX6900 (SPX) $2.02 ↓ -0.28%
Filecoin Filecoin (FIL) $2.71 ↑ 1.90%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.74 ↑ 0.33%
Jupiter Jupiter (JUP) $0.58 ↑ 4.43%
Flare Flare (FLR) $0.02 ↑ 4.38%
Story Story (IP) $5.47 ↓ -0.56%
Quant Quant (QNT) $127.17 ↑ 5.11%
Injective Injective (INJ) $15.30 ↑ 6.30%
Curve DAO Token Curve DAO Token (CRV) $1.08 ↑ 2.56%
KuCoin Token KuCoin Token (KCS) $11.52 ↓ -0.32%
XDC Network XDC Network (XDC) $0.09 ↑ 2.70%
First Digital USD First Digital USD (FDUSD) $1.00 ↓ 0.00%
Celestia Celestia (TIA) $2.00 ↑ 2.85%
Fartcoin Fartcoin (FARTCOIN) $1.34 ↓ -2.67%
Four Four (FORM) $3.41 ↑ 0.37%
Stacks Stacks (STX) $0.82 ↑ 0.38%
Optimism Optimism (OP) $0.73 ↑ 1.53%
FLOKI FLOKI (FLOKI) $0.00 ↑ 0.56%
Ethereum Name Service Ethereum Name Service (ENS) $31.25 ↑ 2.84%
Immutable Immutable (IMX) $0.59 ↑ 2.98%
dogwifhat dogwifhat (WIF) $1.10 ↑ 1.15%
The Graph The Graph (GRT) $0.11 ↑ 1.63%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.60 ↑ 0.14%
Kaia Kaia (KAIA) $0.17 ↑ 1.61%
Lido DAO Lido DAO (LDO) $1.11 ↑ 1.51%
Pump.fun Pump.fun (PUMP) $0.00 ↑ 7.61%
PancakeSwap PancakeSwap (CAKE) $2.80 ↑ 1.28%
Sonic Sonic (S) $0.34 ↑ 0.17%
Conflux Conflux (CFX) $0.19 ↑ 3.17%
PAX Gold PAX Gold (PAXG) $3,357.01 ↑ 0.04%
Tezos Tezos (XTZ) $0.89 ↑ 0.04%
Vaulta Vaulta (A) $0.58 ↑ 0.53%
Theta Network Theta Network (THETA) $0.91 ↑ 2.55%
PayPal USD PayPal USD (PYUSD) $1.00 ↓ 0.00%
JasmyCoin JasmyCoin (JASMY) $0.02 ↑ 0.99%
IOTA IOTA (IOTA) $0.22 ↑ 4.18%
Nexo Nexo (NEXO) $1.31 ↑ 0.37%
Raydium Raydium (RAY) $3.09 ↓ -0.85%
Tether Gold Tether Gold (XAUt) $3,348.08 ↑ 0.02%
The Sandbox The Sandbox (SAND) $0.32 ↑ 3.60%
Gala Gala (GALA) $0.02 ↑ 1.91%
Aerodrome Finance Aerodrome Finance (AERO) $0.90 ↓ -0.45%
Pyth Network Pyth Network (PYTH) $0.13 ↑ 1.45%
Pendle Pendle (PENDLE) $4.43 ↓ -1.27%
Jito Jito (JTO) $2.02 ↑ 1.83%
Home Cryptocurrency

DeFiance Capital Founder Reveals the Drivers Behind the Emerging AAVE Bullish Pattern

Tom Nyarunda by Tom Nyarunda
24 December 2024
in Cryptocurrency, News
Reading Time: 3 mins read
0
AAVE Rally

AAVE Bullish Sentiment

Despite a recent decline, an emerging AAVE bullish pattern is the clearest indicator yet that the altcoin is poised for a double-digit correction that could drive holders to profitability.

22ccc

Table of Contents

Toggle
    • YOU MAY BE INTERESTED
    • Pudgy Penguins Mooned, Now Troller Cat’s 2024% ROI Is Turning Heads Fast
    • Didn’t Catch the Neiro Train? MoonBull Could Be the Best Upcoming Crypto You’ve Been Waiting For
  • The Emerging AAVE Bullish Pattern Comes After Serious Price Correction
  • The Bullish Pattern Could Climax in a Breakout
  • Analysts Predict a $400 Price by Year-End
  • Conclusion
  • Frequently Asked Questions (FAQs)
    • What are the primary roles of the Aave token?
    • How do users participate in the governance of the Aave protocol?
    • Are the benefits for lenders providing liquidity on Aave?

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According to a post on X by the DeFiance Capital founder and CEO, Arthur Cheong, whale activity and institutional interest have propelled the DeFi asset from a recent decline that saw over $5.13 million liquidated to becoming the best-performing DeFi token in recent days. In the X post, Cheong stated, “Despite the overall market weakness, AAVE’s price is close to its cycle high. This may be institutional funds buying in order to claim holdings of Aave in their year-end reports.”

The Emerging AAVE Bullish Pattern Comes after Serious Price Correction
Bullish Pattern Comes after Price Correction

The Emerging AAVE Bullish Pattern Comes After Serious Price Correction

The emerging AAVE bullish pattern emerged only one week after the altcoin faced a serious correction after it reached the $400 level one week ago, rallying over 30% from the previous week. Analysts then predicted that if the trend continued while AAVE lingered at about $343 last week Thursday, there was a possibility of a pullback that could extend the decline by another 17% to have it retest the support level of $284.63.

Last week’s weekly Relative Strength Index (RSI) for AAVE read 74, with its overbought level of 70 pointing downwards, thereby indicating a potential weakness in the emerging AAVE bullish moment.

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The Bullish Pattern Could Climax in a Breakout

Despite what most analysts would have seen as a weak ending of the previous week, the emerging AAVE bullish pattern highlights the possibility of a long-term outcome following the minor retracement, with signs of ascendance being revamped.

Arthur Cheong attributes that gathering bulls to an inflow of cash from institutional players who are betting on a good outcome as the year 2024 draws to a close. According to the DeFiance Capital founder, the emerging AAVE bullish pattern could climax in a breakout that could pave the way toward a new all-time high during the closing days of 2024.

AAVE Bull run happening
The Bullish Pattern Could Climax in a Breakout

Analysts Predict a $400 Price by Year-End

As the emerging AAVE bullish pattern gathers steam with predictions of gaining at least 25% following indications of heightened buying activity, it is indicative of rising interest not only in the altcoin but the entire DeFi ecosystem as a whole. A quick review of AAVE’s price action since it hit an all-time low in June 2022 indicates that the altcoin finally broke through its key resistance level.

After hitting the 0.618 Fib level at $112 twice, it went on to test and break another key resistance at $130, which was aptly broken before ascending to $145.  After forming a double bottom pattern since it descended from its highs in March 2024, AAVE broke above the neckline of the double bottom and paved the way for higher than $145. At the time of writing, the price of AAVE stood at $372.76, and analysts said it could hit $400 or above.

Conclusion

With the emerging AAVE bullish pattern, the DeFi token stands as one of the leading tokens in the world of decentralized finance with specialized products like interest-bearing assets and flash loans. The flash loan feature, one of its leading products, allows users to borrow funds, repay without collateral, and pay within a single transaction. Arthur Cheong believes that it is such pioneering products that are responsible for institutional interest and the emerging AAVE bullish pattern.

AAVE’s governance model has also empowered token holders, enabling them to participate actively in its governance. Recent expansions have broadened the variety of products and compatible assets, meaning it has multi-chain capabilities with Avalanche, Ethereum, and Polygon. All these developments have placed the altcoin strategically as DeFi moves towards mainstream adoption, hence the emerging AAVE bullish pattern.

Frequently Asked Questions (FAQs)

What are the primary roles of the Aave token?

The AAVE token is used for governance (participating in decision-making), staking (Providing security to the network), and liquidity mining (providing liquidity and rewarding users).

How do users participate in the governance of the Aave protocol?

Users can hold and stake AAVE tokens, which give them the right to vote for proposals and influence decisions on upgrades, protocol changes, and economic parameters.

Are the benefits for lenders providing liquidity on Aave?

Lenders who provide liquidity benefit by earning passive income from interest on their deposits as their funds create the liquidity pools from which borrowers receive loans.

Tags: AAVE Bull RunArthur Cheong
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Tom Nyarunda

Tom Nyarunda

Tom Nyarunda is a writer with in-depth knowledge of blockchain, cryptocurrency, NFTs, and SaaS. Based in Kenya, Tom has devoted his time to the study of Bitcoin and cryptocurrency, as he believes them to be incorruptible products of the future.

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