Aave Price Surges 28% After Trump Family’s WLFI Buys $1M AAVE With USDC, While Traders Pivot To This V2E Crypto For Exponential Gains
Release: 2024/12/12 19:32 Reading: 651
Aave Price Surges Amid WLFI Crypto Purchases
The Aave price has experienced a significant 28% surge in the last 24 hours, reaching $353.80 at 02:23 a.m. EST. This increase was accompanied by a 28% jump in trading volume to $2 billion.
The rise in Aave's value comes amidst news that crypto wallets connected to World Liberty Financial (WLFI), a project supported by the Trump family, have acquired millions of dollars worth of major tokens, including $1 million in AAVE.
Bullish Trend for Aave
The 4-hour AAVE/USD chart exhibits a parabolic upward trend, indicating exponential growth. This surge followed a period of consolidation between $266 and $288, which subsequently led to a sharp breakout and rally.
Both the 50-day and 200-day Simple Moving Averages (SMAs) are trending upwards, with the price significantly above both, further supporting the bullish trend.
The Relative Strength Index (RSI) is currently at 76.73, indicating overbought conditions. While this signals strong buying pressure, it also suggests a potential risk of short-term correction or consolidation as traders seek to secure profits.
Momentum Indicators
The MACD line (blue) is well above the signal line (orange), and both are in positive territory, confirming strong bullish momentum. The growing histogram bars further reinforce the continuation of the trend.
Given the parabolic curve and momentum indicators, the Aave price is likely to continue its upward trajectory in the short term. If it remains above the $340 support zone, it could target the next psychological resistance level around $380–$400.
However, the overbought RSI warns of a possible pullback, which could retest support at $287 or even $273 (the 50-day SMA) before resuming its upward trajectory.
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