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

/ 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.

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.

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