AAVE Price Breakout Looms as DeFi Activity Surges

AAVE has made significant gains since finding support around $60 in June 2026 and is now closing in on its 200-day EMA. A clean break above ~$108 could be the key technical trigger to reopen targets at $120 and $160 or higher, echoing a prior rally of roughly 650% after breaking above the same indicator in late 2023.

The token's price chart has developed an interesting structure, with active addresses trending higher and substantial stablecoin activity. Total stablecoins supplied on Aave have reached $8.98B, while total stablecoins borrowed stand at $7.40B, putting stablecoin utilization at 82.46%. Aave V4 is also showing activity, with $389.1M supplied against $130.9M borrowed and a reported TVL of $258.3M.

However, the AAVE price still needs to prove itself above $108 before it can be considered strong. If it can flip this area and hold it, the technical picture could strengthen considerably. The current setup bears resemblance to the earlier breakout in late 2023, with the token recovering from major support and moving toward the same long-term trend indicator.