Aave Price Breaks Out: Will $113 be the Next Target?

The Aave price is currently hovering around $97.41, representing a 3.9% decline from the previous day's value. The market capitalization of Aave stands at approximately $1.502 billion, with a fully diluted value of $1.559 billion and a 24-hour trading volume of $227.58 million.

The total value locked across the protocol has reached $14.335 billion, indicating a healthy state for a lending protocol of this size. The circulating supply is approximately 15.418 million tokens against a maximum supply of 16 million, leaving minimal room for further unlocking.

When examining the daily chart, an inverse head and shoulders pattern emerges, with a potential neckline near $101. A successful breakout above this level could propel the price towards $113, as both Wolfe wave projection and measured move readings indicate.

However, if the neckline holds as resistance rather than support, a drop back to $82.90 or even $72.43 becomes more likely. The weekly chart shows Aave respecting an ascending trendline since its base near $60, with testing of this trendline underway.