AAVE Surges 14% Weekly, Eyes 40% Gain to $363.74

Aave, a prominent decentralized finance (DeFi) protocol, is currently exhibiting intriguing signals on its weekly chart. The price of AAVE has retraced to the 0.5–0.618 Fibonacci retracement zone, which is approximately around the $200 area. This zone has historically acted as a strong support level, attracting buyers and preventing further price declines. The recent price action shows that AAVE bounced back strongly after dipping into this Fibonacci pocket, indicating that traders are finding value at these levels and placing fresh buy orders.

The current price of AAVE is near $260.72, marking a more than 14% increase for the week. This bullish momentum could be further confirmed if AAVE closes above the 0.236 Fibonacci level, which is around $260. If this occurs, it would signal that buyers are in control, potentially opening the door for a significant upward move.

The chart provides a clear roadmap for potential targets if the bullish momentum continues. The first mid-term target is around $363.74. If AAVE maintains its momentum and continues to break higher, the next levels to watch are $425.55 and then $482.87. These targets are based on measured moves projected from the current consolidation pattern and previous swing highs.

Key Fibonacci retracement levels show where buyers have stepped in to support the price. The 0.5 retracement around $200 and the 0.618 retracement just below it have acted as a floor for the recent correction. This support zone is critical for AAVE to hold above if the bullish scenario is to play out. The 0.236 level near $260 is acting as a pivot point. If AAVE can sustain a weekly close above this area, it will signal to traders that buyers are back in control, potentially leading to a big move to the upside.

If the bullish continuation unfolds, the first milestone is around $363.74, representing the first major resistance and delivering a solid upside from the current AAVE price. Beyond that, the next potential stops are at $425.55 and $482.87, offering exciting opportunities for mid-term trades. These targets depend on AAVE maintaining strength above the support box and breaking out above the 0.236 Fib level. As long as the price holds this bullish structure, there’s a good chance AAVE could rally sharply toward these levels in the coming months.