Date: Tue, August 20, 2024, 04:47 AM GMT
AAVE, the popular DAO token, is making waves in the cryptocurrency market. In the past 24 hours, AAVE has surged by an impressive 11.97%, pushing its price to $126.3. This bullish momentum is drawing significant attention, with trading volume skyrocketing by 115.46%, a clear sign of growing investor interest.
Major Breakout Signals Bullish Trend
The recent price surge can be linked to a significant technical breakout. According to the analysis shared by @WorldOfCharts1 on X (formerly Twitter), AAVE has broken out of a bullish pennant pattern. This breakout occurred around the $110 mark, and since then, AAVE has gained over 15%.
Is $200 the Next Target?
The breakout has led to speculation about AAVE’s next price target. Analyst @WorldOfCharts1 suggests that this breakout could propel AAVE towards the $200 mark, with a potential upside target of $255. If this prediction holds true, AAVE could see a more than 80% increase from its current price level.
As AAVE continues to attract investor interest, all eyes are on whether this bullish trend will continue and if the $200 mark is within reach.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice.