AAVE Surges 100% Since April, Breaks $290 Resistance

AAVE, a prominent altcoin, has experienced a remarkable surge, gaining over 100% since April and breaking through the $290 resistance level, which is now acting as support. The price of AAVE is currently above the 200-day Exponential Moving Average (EMA), indicating a sustained bullish trend. Despite the broader market uncertainty, AAVE has garnered significant attention from investors and traders due to its impressive performance.

The daily chart of AAVE shows a rally of over 100% since late April 2025. Analysts predict that the altcoin is poised for an additional 40% upside, driven by its recent breakout above resistance levels, a strong surge in whale participation, and notable exchange outflows over the past 48 hours. Large transaction counts in the $100K–$1M range spiked by 360.77%, while the $1M–$10M cohort surged by 283.33%. Such transactions are typically associated with whales or institutions, and this surge followed a breakout above a key level, contributing to the price rally and signaling continued bullishness.

At the time of reporting, AAVE was trading just above $310, marking a 7% gain in 24 hours. Trading volume jumped by 55%, confirming strong spot participation. When price increases are accompanied by spikes in trading volume, it often indicates genuine conviction rather than temporary hype. A rise in volume with the price suggests strong market support and buyer confidence, indicating a potentially sustainable rally.

Technical analysis suggests that AAVE appears bullish, having successfully broken out of a strong resistance level at $290. This breakout followed a period of prolonged consolidation, which is itself a bullish signal. If AAVE maintains its upside momentum and holds above the $290 level, the upward trend could continue. Thus, there is a strong possibility that AAVE’s price could surge by over 35%, reaching the $416 level. This breakout, paired with the asset trading above the 200-day EMA, strengthens the case for continuation.

The bullish outlook is further bolstered by potential accumulation from investors and long-term holders. Data from on-chain analytics revealed that exchanges recorded an outflow of approximately $5.63 million worth of AAVE tokens over the past 48 hours. Such outflows indicate potential accumulation, creating buying pressure and upward momentum. Overall, it seems that the bulls are pushing AAVE’s price toward a new high.