AAVE Price Breaks Resistance: Can It Rally Towards $100-$102?

According to crypto analyst Crypto With Gopal, AAVE is forming a falling wedge pattern on its four-hour chart. The price of AAVE has been hovering near $86.76 as buyers defend the lower trendline.

The contracting structure suggests selling pressure may be weakening, creating conditions for a potential reversal. A breakout above the $92-$94 resistance zone could confirm renewed bullish momentum for the AAVE price and shift market sentiment higher.

However, it's essential to note that the confirmation is necessary due to the possibility of rejection, which can confine the price in the consolidation zone.

The data from Token Terminal further highlighted that Aave is now the top DeFi protocol in terms of tokenized gold deposits, accounting for over 50% of the total supply of tokenized gold deposited on decentralized finance protocols. This milestone demonstrates increased demand for gold products on the blockchain.