Aave (AAVE) has exhibited an impressive comeback after the recent selloffs across markets. The token climbed from $191 right through $212,02, marking a 6,93% weekly gain.

The return to DeF 1 Market felt quite feeble, drawing in increasing attention from buyers. AAVE bears an average trading volume of $714,15 million plus a market capitalisation of $3,18 billion with a 0,11% claim of the crypto piechart.

Critical Support and Resistance Levels

Technical analysis suggests that AAVE is still executing a five-waves-up pattern, which kicked off in 2022, and is at the moment shaping into wave iv.

However, AAVE”s bullish scenario caters around present support at $107. Below this level, the uptrend may be canceled, therefore setting up AAVE for grave correction and eventual struggles to reclaim previous highs.

Can Aave Continue Higher?

In this recovery, AAVE must sustain momentum and rise past key resistance levels. The ability to rise above some very key resistance points would confirm this is a bullish continuation.

Conversely, withdrawal may resuscitate selling pressure. Traders are watching carefully and attentively to observe the price resonating on this bounce, and at the same time, ponder whether this is a bullish entry point or just a dead-cat bounce.