Aave’s native token, AAVE, surged 14% in the past 24 hours to $188 on Tuesday, as the broader crypto market rebounded from the sharp sell-off earlier in the week.
This is one of the strongest daily gains among major DeFi assets, surpassing the CoinDesk 5 Index’s 8% gain during the same period.
The rally was fueled by a strong breakout above the $175 level during the US trading session, where volume soared 295% above average in a single hour, noted technical analysis tool CoinDesk Research. Overall, AAVE posted an intraday range of $24.90, up from $164.28 due to heavy trading activity, representing a 35.66% increase from its seven-day average.
Technical indicators confirmed this dynamic. AAVE recorded three higher lows before breaking above support at $183.80 and hitting a session high of $188.26, with spikes in volume reinforcing bullish control.
Aave’s expansion to Mantle (MNT), a layer 2 Ethereum scaling network closely connected to crypto exchange Bybit’s 70 million user base, boosted sentiment. The partnership brings DeFi lending to a wider audience, leveraging low-cost infrastructure while connecting centralized exchange liquidity to decentralized lending markets.
“By integrating Aave’s lending marketplaces with Mantle’s high-performance network with direct access to the Bybit exchange, this integration makes transparent, on-chain financing available globally to institutions around the world,” said Stani Kulechov, Founder of Aave Labs.
Key technical levels to watch
- Support/Resistance: Immediate support at $183.80; next resistance at the psychological level of $190.00.
- Volume analysis: The breakout confirmed by a 35.66% increase in trading volume signals strong participation.
- Chart templates: An upward trend with a clear break above $175 suggests continued strength.
- Targets and risk/reward: The next upside target is at $190.00 with a potential extension to $195.00; Downside risk remains limited while holding above $183.80.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
