ExchangeDEX+

Buy Crypto Markets Spot FuturesGOLD Earn Event Center

AAVE consolidates near $290 as analysts eye $600 upside or $230 downside. Price holds key levels amid mixed technical signals.AAVE consolidates near $290 as analysts eye $600 upside or $230 downside. Price holds key levels amid mixed technical signals.

Will AAVE Hit $600 or Fall to $230? Traders Split

Author: CryptoPotato

Source: CryptoPotato

2025/08/20 23:47

3 min read

NEAR$1.165-0.85%

AAVE$124.37-0.56%

TL;DR

AAVE is holding above range lows with traders watching for a breakout toward $600.
Daily chart shows an M-pattern forming, with a possible short-term target near $230.
Balance of Power remains negative, but fading red bars suggest weakening selling pressure.

Price Action and Current Structure

Aave (AAVE) was trading around $290 at press time, with a slight gain of 1% over the last 24 hours. The asset has pulled back by nearly 10% over the past week. At present, AAVE is consolidating just below the mid-range zone between $320 and $340.

CryptoAmsterdam has shared a weekly chart showing that AAVE is holding above its earlier range low entries. It also outlines a recent higher high, and the current consolidation may be forming a higher low. A break above mid-range could push AAVE toward the $600 range high, where traders would then look for a possible breakout into new levels.

Over the last few years, AAVE has moved through several phases. After a strong rally, it entered a deep decline, followed by a long period of sideways movement between $50 and $120. The move out of that range shows a possible shift away from accumulation.

Aave is a major protocol in the DeFi space. It runs a non-custodial lending system and continues to hold a large portion of the market. Based on DefiLlama data, Aave’s Total Value Locked (TVL) is currently at around $36 billion, which makes up close to half of the entire DeFi lending market. Last week, its TVL reached $40 billion, marking a new all-time high.

Bearish Setup on Short-Term Chart

On the daily chart, analyst Ali Martinez pointed to a possible double top forming. This M-shaped pattern often points to a short-term top. If the pattern plays out entirely, AAVE could drop toward $230.

The asset recently dropped to $285.89, after failing to move past the $330 level. Support around $278 is being watched. If that level breaks, the following zones to watch are near $250 and $244.

Moving Averages and Volume Signal

AAVE is now trading above the 20-day simple moving average (SMA) at $288, but just under the 50-day SMA, which is at $294. This shows that the short-term trend is undecided. Buyers will need to hold above $288 and push through the $294 area to regain momentum.

Source: TradingView

Meanwhile, the Balance of Power (BBP) indicator is at -19.09, showing that sellers still have control. The red bars are smaller than last week, which may suggest that the pressure is fading. Traders are watching for a flip back into positive, which could confirm a recovery if resistance breaks.

The post Will AAVE Hit $600 or Fall to $230? Traders Split appeared first on CryptoPotato.

Market Opportunity

NEAR Price(NEAR)

$1.165

$1.165$1.165

+1.56%

USD

NEAR (NEAR) Live Price Chart

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

Tags:

#DeFi #Lending