AAVE ripped from $214 to $264 in less than 24 hours, slicing through multiple resistance bands on above-average volume. CoinDesk’s technical desk highlighted a late-night volume spike (232 K tokens) as the catalyst that flipped the $250 psychological barrier into intraday support.
Unlike earlier rallies tied to governance proposals, this move was mostly speculative. No major protocol upgrades or treasury votes landed; instead, momentum traders rotated into DeFi blue-chips after Bitcoin’s weekend strength. Institutional desks reportedly treated the trade as a high-beta bet on a fresh leg higher for ETH-denominated yields.
Whether gains stick depends on holding the newly formed $240–$250 floor. Derivatives funding has already turned positive, so if volumes fade without fresh fundamentals, a retrace toward that zone is likely. Conversely, sustained staking inflows into ETH—Aave’s largest collateral base—could extend the upside squeeze toward the $270s.
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