Aave Price Eyes Strong Recovery To $400 As DeFi Activity Strengthens

The Aave price is showing signs of recovery as its higher-low structure strengthens the bullish outlook. According to Giannis Andreou, the token's 'ghost' is waking up, and more gains could be realized once key resistance levels are taken back.

Andreou notes that the $150-$170 range represents the first important test for Aave. A close above $170 on a weekly timeframe would give more credence to a bullish setup, while a retest holding at support would confirm the recovery structure.

The analyst recommends keeping the broader recovery structure intact by allowing for a retreat back down to $100-$120 in case of a pullback. However, if Aave's price crosses the resistance level at $170, the next level of attention will be the range from $190 to $210.

Passing this range would make the way to $240-280 clear, and overcoming both resistance levels is necessary for reaching $350-400. The TradingView chart analysis reveals that Aave is still in a robust macro uptrend despite its consolidation in July and August.