Aave Coin (AAVE) Goes Bullish, Marks $100 Price Mark First Time After 14 Months

Aave Coin (AAVE) Goes Bullish, Marks $100 Price Mark First Time After 14 Months

Aave Coin (AAVE)

/ Aave Coin (AAVE) soars to $100 after 14 months. Discover the reasons behind this bullish surge in the crypto market.

By Nilesh Hembade.

Date: 02 Nov 2023, 10:50 PM IST

Aave, the Ethereum-based protocol known for its automated crypto loans, has risen in the cryptocurrency market today. Over the last 24 hours, the AAVE coin price has witnessed an impressive surge of +22%, capturing the attention traders. At the time of writing, the AAVE token is confidently trading at $100.32, boasting a substantial market cap of $14 billion.

What’s more, this milestone is significant as it marks the first time AAVE has reclaimed the $100 price point in nearly 14 months, with the last occurrence being back in August 2022.

Factors behind the Aave Coin (AAVE) surge:

The major reason behind the surge of Aave Coin (AAVE) is something technical. AAVE Coin has given a big breakout on October 16, 2023, at the price level of $68.This breakout has brought bullishness to AAVE Coin in recent times.

Aave cryptocurrency chart
Source- TradingView

Since this breakout, the AAVE price has jumped to $100 from the $68 price level. By looking at the chart, a more upward moment can be expected in AAVE in the upcoming days.

Disclaimer:

Consult your financial advisor before making any decisions because Investing in digital assets is extremely risky. Digital asset prices are subject to high market risk and price volatility. No information on this website is intended to be a solicitation or an offer.

Comments are closed.